LD 420 LR 573(04)
An Act To Amend the Maine Exclusion Amount in the Estate Tax
Fiscal Note for Senate Amendment " " to Committee Amendment "A"
Sponsor: Sen. Libby of Androscoggin
Fiscal Note Required: Yes
Fiscal Note
FY 2019-20 FY 2020-21 Projections  FY 2021-22 Projections  FY 2022-23
Net Cost (Savings)
General Fund $0 $75,000 $75,000 $75,000
General Fund $0 ($75,000) ($75,000) ($75,000)
Fiscal Detail and Notes
This amendment excludes from estate tax farmland that is transferred to a family member.  The increase in General Fun revenue shown in the committee amendment would be reduced by $75,000 beginning in fiscal year 2020-21.