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126th MAINE LEGISLATURE |
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LD 7 |
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LR 369(01) |
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An Act To Equalize
the Premiums Imposed on the Sale of Motor Vehicle Oil |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Harvell of Farmington |
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Committee: Environment and Natural Resources |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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| Current biennium revenue decrease - Other Special Revenue Fund |
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| Fiscal Detail
and Notes |
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The bill would
reduce the premium imposed by the State on gasoline engine oil sold or
distributed in containers larger than 5 gallons from $1.10 per gallon to $.35
per gallon. This decrease in premium
would lower revenue collected by Maine Revenue Services and deposited into
the Waste Motor Oil Revenue Fund. This
could jeopardize the timely repayment of revenue bonds issued by the Finance
Authority of Maine that are repaid with these premium payments. |
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