121st Maine Legislature
Office of Fiscal and Program Review
LD 1670
An Act To Include Disability Retirement Income in Retirement Income Eligible for Tax Exemption
LR 2235(01)
Fiscal Note for Original Bill
Sponsor: Rep. Watson of Bath
Committee: Taxation
Fiscal Note Required: Yes
   
             
Fiscal Note
Projections Projections
2003-04 2004-05 2005-06 2006-07
Net Cost (Savings)
General Fund $0 $210,609 $218,802 $227,554
Revenue
General Fund $0 ($210,609) ($218,802) ($227,554)
Other Special Revenue Funds $0 ($11,318) ($12,002) ($12,482)
Fiscal Detail and Notes
This bill is expected to reduce income tax collections by $221,927 in fiscal year 2004-05, resulting in a General Fund revenue decrease of $210,609 and an Other Special Revenue funds decrease of $11,318 for state-municipal revenue sharing.