129th MAINE LEGISLATURE
		LD 839		LR 566(02)
	An Act To Increase Funding for Multimodal Transportation
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	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		($890,226)	($1,062,594)	($78,660)	($82,080)
Appropriations/Allocations
	Other Special Revenue Funds		$0	$890,226	$1,952,820	$2,031,480
Revenue
	General Fund		$890,226	$1,062,594	$78,660	$82,080
	Other Special Revenue Funds		$44,640	$993,006	$2,059,740	$2,142,720
Fiscal Detail and Notes
	The bill increases the sales tax rate on short-term rentals of automobiles, small trucks and vans from 10% to 12% and increases General Fund revenue by $890,226 in fiscal year 2019-20 and $1,062,594 in fiscal year 2020-21.  It also increases Local Government Fund revenue by $44,640 in fiscal year 2019-20 and $102,780 in fiscal year 2020-21.  The transfer of this tax from the General Fund to the Multimodal Transportation Fund does not occur until the fiscal year after the tax is collected.  Therefore, Multimodal Transportation Fund revenues would not be increased until fiscal year 2020-21 in the amount of $890,226.  The bill includes an Other Special Revenue Funds allocation to the Department of Transportation of $890,226 in fiscal year 2020-21 to allow expenditure of the increased revenue.