124th MAINE LEGISLATURE
		LD 743		LR 634(02)
	An Act To Exempt Fuel Used by Commercial Fishing Vessels from the Sales Tax
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$0	$0	$26,494	$56,422
Revenue
	General Fund		$0	$0	($26,494)	($56,422)
	Other Special Revenue Funds		$0	$0	($1,453)	($3,095)
Fiscal Detail and Notes
	This bill provides a refund for a portion of the sales tax paid on the purchase of fuel used in all commercial fishing vessels. It applies only to the sales tax paid on the portion of the sales price that exceeds $3.00 per gallon from July 1, 2009 to June 30, 2010 and $3.50 per gallon for sales after June 30, 2010. The reduction in sales tax will reduce General Fund revenue by $26,494 in FY 2011-12 and $56,422 in FY 2012-13 and thereafter. The Local Government Fund revenue will decrease by $1,453 in FY 2011-12 and $3,095 in FY 2012-13 and thereafter.  Additional costs to Maine Revenue Services associated with issuing the refunds and other duties can be absorbed within existing budgeted resources.