130th MAINE LEGISLATURE
LD 1462 LR 1414(02)
An Act To Serve the Public Interest, Promote Journalism and Save Jobs by Restoring the Sales and Use Tax Exemption for Newspapers
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
Fiscal Note Required: Yes
             
Fiscal Note
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $1,677,156 $3,436,125 $3,458,000 $3,529,250
Revenue
General Fund ($1,677,156) ($3,436,125) ($3,458,000) ($3,529,250)
Other Special Revenue Funds ($65,344) ($133,875) ($182,000) ($185,750)
Fiscal Detail and Notes
This bill creates a sales tax exemption for certain publications and will reduce General Fund revenue by $1,677,156 in fiscal year 2021-22 and $3,436,125 in fiscal year 2022-23.  It will also reduce Local Government Fund revenue by $65,344 in fiscal year 2021-22 and $133,875 in fiscal year 2022-23.