121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1824
		An Act To Provide Property Tax Relief to Maine Homeowners
		LR 2194(07)
		Fiscal Note for House Amendment " "
		Sponsor: Rep. Richardson
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$0	$0	$40,000	$80,000
Appropriations/Allocations
	General Fund		$0	$0	$40,000	$80,000
Fiscal Detail and Notes
	This bill provides a cap on growth for municipal budgets and applies to municipalities' appropriations for fiscal year 2005-06 and thereafter. The Department of Audit will require an additional Auditor III position beginning in fiscal year 2005-06 to handle this new responsibility of determining municipal compliance with the appropriation limitation process specified in 30-A MRSA §5721-A.  The estimated cost in fiscal year 2005-06 is $40,000 and $80,000 in fiscal year 2006-07.  The additional computer programming costs associated with the requirement to reduce a municipality's share of state revenue sharing when a municipality exceeds its budget cap can be absorbed by the Treasurer of the State utilizing the resources of the Local Government Fund.