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This
bill establishes a collection allowance to provide reimbursement to people
who collect sales and use taxes. This
change will reduce sales and use tax collections by an estimated $12,076,280
in fiscal year 2003-04 and $14,476,189 in fiscal year 2004-05. The reduction of these tax collections
will decrease the amounts transferred to the Local Government Fund for
state-municipal revenue sharing in those years by $627,967 and $752,762. The resulting net reduction of General
Fund revenue is estimated to be $11,448,313 in fiscal year 2003-04 and
$13,723,427 in fiscal year 2004-05, based on an effective date of October 1,
2003. Maine Revenue Services will
also require a General Fund appropriation of $36,150 in fiscal year 2003-04
for the related administrative costs. |
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