Sec. C-1. Department of Administrative and Financial Services, Bureau of Revenue Services; lease-purchase authorization. Pursuant to the Maine Revised Statutes, Title 5, section 1587, the Department of Administrative and Financial Services, Bureau of Revenue Services, after advising the Treasurer of State, may enter into financing arrangements for the acquisition and implementation of a tax revenue modeling system. Any financing agreement may not exceed 3 years in duration and $1,000,000 in principal costs. The interest rate may not exceed 6% and total interest costs may not exceed $120,000.
Sec. C-2. Authority to contract for auditing. The Department of Administrative and Financial Services, Bureau of Revenue Services, is authorized to contract for the provision of tax auditing services for businesses whose primary locations are outside of the State in fiscal years 1998-99, 1999-2000 and 2000-01. By January 1, 2001, the State Tax Assessor shall report to the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs and the joint standing committee of the Legislature having jurisdiction over taxation matters including the amount of revenue collected through contracted auditing services and evaluating the advantages and disadvantages of contracting for auditing services compared to the direct provision of services.
Sec. C-3. Authority to expend funds; Bureau of Revenue Services. The Bureau of Revenue Services is authorized to expend funds from the appropriation in section C-4 of this Part only to the extent that the Executive Director of Maine Revenue Services and the State Budget Officer agree and certify that the General Fund revenue received or estimated to be received by the State as a direct result of section C-2 is new incremental revenue over and above the current revenue estimate for fiscal year 1998-99. The State Budget Officer shall report periodically to the joint standing committee of the Legislature having jurisdiction over appropriations and financial affairs on the amount of new incremental revenue received as a result of section C-2 of this Part.
Sec. C-4. Appropriation. The following funds are appropriated from the General Fund to carry out the purposes of this Part.
1998-99
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF
Bureau of Revenue Services
All Other $373,333
Provides for the appropriation of funds for the lease-purchase of a tax modeling system. Funds must be expended in accordance with section C-3 of this Part. Unexpended funds do not lapse but carry forward to the following year.
Bureau of Revenue Services
All Other $192,000
Provides for the appropriation of funds to contract for tax auditing services for businesses whose primary locations are outside of the State.
DEPARTMENT OF ADMINISTRATIVE AND FINANCIAL SERVICES __________
TOTAL $565,333
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