128th MAINE LEGISLATURE
		LD 1276		LR 2013(02)
	An Act To Change the Exemption Amount under the Estate Tax
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2017-18	FY 2018-19	Projections  FY 2019-20	Projections  FY 2020-21
Net Cost (Savings)
	General Fund		$167,855	($24,102,325)	($32,593,787)	($33,884,992)
Appropriations/Allocations
	General Fund		$167,855	$297,675	$306,213	$315,008
Revenue
	General Fund		$0	$24,400,000	$32,900,000	$34,200,000
Fiscal Detail and Notes
	The bill lowers the estate tax exemption from $5,000,000 to $1,000,000 for deaths occurring on or after January 1, 2018 and reduces General Fund revenue by $24,400,000 in fiscal year 2018-19.  The bill includes General Fund appropriations of $167,855 in fiscal year 2017-18 and $297,675 in fiscal year 2018-19 to the Department of Administrative and Financial Services for 3 Senior Revenue Agent positions and related costs to audit and process estate tax returns.