121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1824
		An Act To Provide Property Tax Relief to Maine Homeowners
		LR 2194(16)
		Fiscal Note for Senate Amendment " "
		Sponsor: Sen. Damon
		Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - General Fund
Potential future biennium cost increase - General Fund
Referendum Costs		Month/Year	Election Type	Question	Length
		Nov-04	General	Referendum	Standard
	The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November. If the number or size of the referendum questions increases the ballot length, an additional appropriation of $8,000 or more may be required.
	If approved by the voters in November 2004, this bill would implement a Homestead Tax Cap Program.  The estimated annual reduction of General Fund revenue as a result of this program would be approximately $45,000,000 beginning in fiscal year 2005-06.  The annual administrative costs would be approximately $150,000.