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130th MAINE LEGISLATURE |
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LD 506 |
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LR 442(05) |
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An Act To Reduce
the Tax Burden on Low-income Electricity Customers |
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Fiscal Note for
Bill as Engrossed with:
C "A" (H-343)
S "A" (S-595) to C "A" (H-343) |
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Committee: Taxation |
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| Fiscal Note |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$68,400 |
$137,750 |
$137,750 |
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| Revenue |
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General Fund |
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$0 |
($68,400) |
($137,750) |
($137,750) |
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Other Special Revenue Funds |
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$0 |
($3,600) |
($7,250) |
($7,250) |
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| Fiscal Detail
and Notes |
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The bill provides
a sales tax exemption for residential electricity consumed by eligible
customers and would result in a reduction in General Fund revenue of $68,400
in fiscal year 2022-23 and a reduction in Local Government Fund revenue of
$3,600 in fiscal year 2022-23. |
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