| 122nd MAINE LEGISLATURE | |||||||||
| LD 1605 | LR 0362(02) | ||||||||
| An Act To Reform the Income Tax for Middle-income and Lower-income Families | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $0 | $4,551,667 | $1,927,724 | $2,188,623 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $0 | $37,750 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | $0 | ($4,513,917) | ($1,927,724) | ($2,188,623) | |||||
| Other Special Revenue Funds | $0 | ($242,581) | ($105,740) | ($120,051) | |||||
| Fiscal Detail and Notes | |||||||||
| The net General Fund cost of the bill is estimated to be $4,551,667 in fiscal year 2006-07. | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| General Fund Summary | |||||||||
| Individual Income Tax | $0 | ($23,694,683) | ($60,204,724) | ($62,047,618) | |||||
| Sales and Use Tax | $0 | $19,180,767 | $58,276,999 | $59,858,995 | |||||
| $0 | ($4,513,917) | ($1,927,724) | ($2,188,623) | ||||||