LD 7 LR 369(02)
An Act To Equalize the Premiums Imposed on the Sale of Motor Vehicle Oil
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Environment and Natural Resources
Fiscal Note Required: Yes
Fiscal Note
FY 2013-14 FY 2014-15 Projections  FY 2015-16 Projections  FY 2016-17
Other Special Revenue Funds ($765,000) ($1,060,800) ($1,103,232) ($1,147,361)
Fiscal Detail and Notes
The bill reduces 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 reduction in premium decreases Other Special Revenue Funds revenue collected by the Bureau of 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.