122nd MAINE LEGISLATURE
		LD 736		LR 0358(01)
	An Act To Provide Property Tax Relief to County Taxpayers
	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		($9,483,885)	($11,814,440)	($11,884,726)	($11,955,435)
Revenue
	General Fund		($9,483,885)	($11,814,440)	($11,884,726)	($11,955,435)
	Other Special Revenue Funds		($9,325,885)	($11,614,440)	($11,684,726)	($11,755,435)
Fiscal Detail and Notes
	This bill is expected to reduce General Fund revenue by $9,483,885 in fiscal year 2005-06 and $11,814,440 in fiscal year 2006-07 based on the December 2004 revenue forecasting committee report.  The estimated loss of revenue to the Housing Opportunities for Maine (H.O.M.E.) Fund within the Maine State Housing Authority is anticipated to be $9,325,885 in fiscal year 2005-06 and $11,614,440 in fiscal year 2006-07.  The Governor's Budget for the 2006-2007 biennium includes a proposal in Part G to reduce the amount of funds distributed from the State's share of the real estate transfer tax to the H.O.M.E. Fund within the Maine State Housing Authority by $7,500,000 in both fiscal year 2005-06 and 2006-07 and instead designates the funds for the General Fund.  If this legislation is approved, these funds will no longer be available for the General Fund in the 2006-2007 budget.