|131st MAINE LEGISLATURE|
|LD 341||LR 951(02)|
|An Act to Amend the Maine Tree Growth Tax Law to Encourage Housing Construction|
|Fiscal Note for Bill as Amended by Committee Amendment " "|
|Fiscal Note Required: Yes|
|FY 2023-24||FY 2024-25||Projections FY 2025-26||Projections FY 2026-27|
|Net Cost (Savings)|
|Fiscal Detail and Notes|
|The bill includes
ongoing General Fund appropriations to the Department of Administrative and
Financial Services, Bureau of Revenue Services of $209,909 in fiscal year
2023-24 and $268,014 in fiscal year 2024-25 for 2 Revenue Agent positions
effective October 1, 2023 to process applications for withdrawal of land from
the tree growth program, conduct site visits and determine eligibility for
the reduced withdrawal penalty provided in the bill.
Increased withdrawals of land from the tree growth program will reduce state reimbursement to municpalities for property tax revenue lost due to the program. The first state reimbursement payment to municipalities that will be impacted by the bill is the October 2025 payment. The projections for fiscal year 2025-26 and fiscal year 2026-27 include a deappropriation of $300,000 per year for the reduced state reimbursement.