| 122nd MAINE LEGISLATURE | |||||||||
| LD 1647 | LR 2246(02) | ||||||||
| An Act to Award Income Tax Credits for Boiler or Furnace Systems That Reduce or Eliminate Certain Pollutants | |||||||||
| 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 | $14,038 | $28,263 | $70,180 | $118,579 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $10,000 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | ($4,038) | ($28,263) | ($70,180) | ($118,579) | |||||
| Other Special Revenue Funds | ($217) | ($1,519) | ($3,850) | ($6,504) | |||||
| Fiscal Detail and Notes | |||||||||
| This income tax credit is expected to reduce General Fund revenue by $4,038 in fiscal year 2005-06 and $28,263 in fiscal year 2006-07. This bill also includes a one-time General Fund appropriation of $10,000 in fiscal year 2005-06 for Maine Revenue Services for the computer programming costs associated with the tax credit. The additional costs associated with certifying eligible systems and other requirements will be absorbed by the Department of Environmental Protection utilizing existing budgeted resources. | |||||||||