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128th MAINE LEGISLATURE |
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LD 1639 |
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LR 2369(03) |
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An Act To Promote
Major Business Headquarters Expansions in Maine, Promote the
Commercialization of Research and Development in Maine and Create Jobs |
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Fiscal Note for
Bill as Engrossed with:
C "A" (S-294) |
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Committee: Taxation |
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| Fiscal Note |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$0 |
$760,000 |
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| Revenue |
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General Fund |
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$0 |
$0 |
$0 |
($760,000) |
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Other Special Revenue Funds |
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$0 |
$0 |
$0 |
($40,000) |
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| Fiscal Detail
and Notes |
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The bill creates
a refundable income tax credit for construction or expansion of major
business headquarters and would result in a loss of General Fund revenue of
$760,000 in fiscal year 2020-21 and a loss of Local Government Fund revenue
of $40,000 in fiscal year 2020-21. |
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Additional costs
to the Department of Economic and Community Development associated with
implementing the provisions of this legislation can be absorbed within
existing budgeted resources. |
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