121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1010
		An Act To Exempt Military Pensions from State Income Tax
		LR 0638(01)
		Fiscal Note for Original Bill
		Sponsor: Rep. McLaughlin of Cape Elizabeth
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
Current biennium revenue decrease - General Fund
Fiscal Detail and Notes
	This bill exempts military retirement plan income from Maine income tax.  This change will reduce income tax collections by approximately $4,000,000 in fiscal year 2003-04 and $10,000,000 in fiscal year 2004-05.  Maine Revenue Services will also require a one-time General Fund appropriation of $6,000 in fiscal year 2004-05 for the administrative costs associated with this change.