LD 1633 LR 2439(02)
An Act To Extend the Date for a Business in a Tier 2 Location To Qualify for Pine Tree Development Zone Benefits
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor, Commerce, Research and Economic Development
Fiscal Note Required: Yes
Fiscal Note
FY 2013-14 FY 2014-15 Projections  FY 2015-16 Projections  FY 2016-17
Net Cost (Savings)
General Fund $0 $0 $534,375 $1,027,187
General Fund $0 $0 ($534,375) ($1,027,187)
Other Special Revenue Funds $0 $0 ($28,125) ($54,063)
Fiscal Detail and Notes
This bill establishes a new Tier 3 Pine Tree Development Zone and extends the sunset date for new Tier 2 Zone certifications.  These provisions would result in a loss of General Fund and Local Government Fund revenue of $534,375 and $28,125 in fiscal year 2015-16 and $1,027,187 and $54,063 in fiscal year 2016-17, respectively.
Additional costs to the Department of Economic and Community Development associated with the certification process can be absorbed within existing budgeted resources.