| 122nd MAINE LEGISLATURE | |||||||||
| LD 81 | LR 0456(01) | ||||||||
| An Act To Establish a Limited Sales-tax-free Shopping Week | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Woodcock of Franklin | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $22,000 | $3,513,146 | $3,610,150 | $3,718,398 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $22,000 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | $0 | ($3,513,146) | ($3,610,150) | ($3,718,398) | |||||
| Other Special Revenue Funds | $0 | ($192,704) | ($198,025) | ($203,963) | |||||
| Fiscal Detail and Notes | |||||||||
| Establishing a sales-tax-free shopping week in August is expected to result in a General Fund revenue loss of $3,513,146 in fiscal year 2006-07. Maine Revenue Services will also require a General Fund appropriation of $22,000 in fiscal year 2005-06 for the administrative costs associated with this change. | |||||||||