125th MAINE LEGISLATURE
		LD 1092		LR 1497(01)
	An Act To Allow a Tax Credit for Tuition Paid to Private Schools
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Sherman of Aroostook
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$12,825,000	$12,825,000	$12,825,000	$12,825,000
Revenue
	General Fund		($12,825,000)	($12,825,000)	($12,825,000)	($12,825,000)
	Other Special Revenue Funds		($675,000)	($675,000)	($675,000)	($675,000)
Fiscal Detail and Notes
	Providing an income tax credit of up to $2,500 for tuition paid to private schools for pre-kindergarten through grade 12 instruction for a taxpayer or a dependent of the taxpayer will reduce General Fund revenues and reduce revenue sharing.