125th MAINE LEGISLATURE
		LD 1092		LR 1497(04)
	An Act To Allow a Tax Credit for Tuition Paid to Private Schools
	Fiscal Note for Senate Amendment "   "
	Sponsor: Sen. Trahan of Lincoln
	Fiscal Note Required: Yes
Fiscal Note
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		($10,850,900)	($11,163,450)	($11,079,850)	($10,992,450)
Revenue
	General Fund		$10,850,900	$11,163,450	$11,079,850	$10,992,450
	Other Special Revenue Funds		$571,100	$587,550	$583,150	$578,550
Fiscal Detail and Notes
	Reducing the maximum income tax credit in the bill from $2,500 down to $1,000 for tuition paid to private schools for pre-kindergarten through grade 12 instruction for a taxpayer or a dependent of the taxpayer and limiting the credit to individuals and their spouses when filing jointly who earn $50,000 or less in Maine adjusted gross income annually will diminish the General Fund loss by $10,850,900 in fiscal year 2011-12 and by $11,163,450 in fiscal year 2012-13.  As amended here, the final impact would be a General Fund revenue reduction of $1,974,100 in fiscal year 2011-12 and $1,661,550 in fiscal year 2012-13.  Revenue sharing would be impacted proportionally.