LD 1762 LR 2721(04)
An Act Related to the Report of the Tax Expenditure Review Task Force
Fiscal Note for Bill as Engrossed with:
No Amendments
Committee: Appropriations and Financial Affairs
Fiscal Note
FY 2013-14 FY 2014-15 Projections  FY 2015-16 Projections  FY 2016-17
Net Cost (Savings)
General Fund $0 $15,000,000 $0 $0
General Fund $0 ($40,000,000) $0 $0
Other Special Revenue Funds $0 $40,000,000 $0 $0
General Fund $0 $25,000,000 $0 $0
Fiscal Detail and Notes
This bill has a net General Fund cost of $15,000,000 in fiscal year 2014-15.  The General Fund cost of the elimination of the $40,000,000 contingent reduction to municipal revenue sharing is partially offset by transfers from the Maine Residents Tax Relief Fund and the Maine Budget Stabilization Fund. 
It also changes the distribution of the General Fund unappropriated surplus at the close of fiscal year 2013-14, also known as the "Cascade," to replace the fourth priority transfer of up to $40,000,000 to municipal revenue sharing with a transfer of up to $21,000,000 to the Maine Budget Stabilization Fund.