| 122nd MAINE LEGISLATURE | |||||||||
| LD 734 | LR 0360(01) | ||||||||
| An Act To Establish a Long-term Capital Gains Tax Rate | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Lindell of Frankfort | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $43,641,930 | $35,141,187 | $36,722,540 | $38,375,055 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $60,000 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | ($43,581,930) | ($35,141,187) | ($36,722,540) | ($38,375,055) | |||||
| Other Special Revenue Funds | ($2,390,570) | ($1,927,576) | ($2,014,317) | ($2,104,961) | |||||
| Fiscal Detail and Notes | |||||||||
| This bill is expected to reduce General Fund revenue by $43,581,930 in fiscal year 2005-06 and $35,141,187 in fiscal year 2006-07 due to the change in the treatment of certain capital gains. Maine Revenue Services will also require a one-time General Fund appropriation in fiscal year 2005-06 for the computer programming costs associated with this change. | |||||||||