128th MAINE LEGISLATURE
		LD 1655		LR 2770(03)
	An Act To Update References to the United States Internal Revenue Code of 1986 Contained in the Maine Revised Statutes
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	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		$9,228,660	$80,452,500	$56,011,277	$68,891,183
Appropriations/Allocations
	General Fund		$0	$180,000	$0	$0
Revenue
	General Fund		($9,228,660)	($80,272,500)	($56,011,277)	($68,891,183)
	Other Special Revenue Funds		($188,340)	($1,552,500)	($2,653,225)	($3,323,220)
Fiscal Detail and Notes
	This amendment provides tax conformity with the Tax Cuts and Jobs Act (TCJA) and other tax changes passed by the federal government through March 23, 2018.  It also makes various other changes to individual and corporate income tax laws.  It would result in a loss of General Fund revenue of $9,228,660 in fiscal year 2017-18 and $80,272,500 in fiscal year 2018-19 and a loss of Local Government Fund revenue of $188,340 in fiscal year 2017-18 and $1,552,500 in fiscal year 2018-19.  The bill includes a one-time General Fund appropriation of $180,000 to the Department of Administrative and Financial Services for computer programming changes.