128th MAINE LEGISLATURE
		LD 1537		LR 726(11)
	An Act To Replace the Educational Opportunity Tax Credit with the Student Loan Repayment Credit for Maine Residents
	Fiscal Note for Senate Amendment " " to Committee Amendment "A"
	Sponsor: Sen. Bellows of Kennebec
	Fiscal Note Required: Yes
Fiscal Note
			FY 2017-18	FY 2018-19	Projections  FY 2019-20	Projections  FY 2020-21
Net Cost (Savings)
	General Fund		$0	$0	$27,550,000	$28,405,000
Revenue
	General Fund		$0	$0	($27,550,000)	($28,405,000)
	Other Special Revenue Funds		$0	$0	($1,450,000)	($1,495,000)
Fiscal Detail and Notes
	This amendment provides that tax credits under the new Student Loan Repayment Credit for Maine Residents are refundable in certain years for loans used to acquire a degree in science, technology, engineering or mathematics or an associate degree in any major.  These provisions would reduce General Fund revenue by $27,550,000 and reduce Local Government Fund revenue by $1,450,000 in fiscal year 2019-20. These reductions are in addition to the reductions already expressed in the fiscal note for committee amendment "A".