LD 126 LR 255(04)
An Act To Provide a Sales Tax Exemption to Incorporated Nonprofit Performing Arts Organizations
Fiscal Note for Bill as Amended by Conference Committee Amendment "A"
Committee: Taxation
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 $61,560 $85,609 $22,353 $0
General Fund ($61,560) ($85,609) ($22,353) $0
Other Special Revenue Funds ($3,240) ($4,506) ($1,176) $0
Fiscal Detail and Notes
This bill exempts incorporated nonprofit performing arts organizations from the sales tax for two years effective October 1, 2013.  The exemption is repealed on October 1, 2015.  The bill reduces General Fund revenue by $61,560 in FY 2013-14 and by $85,609 in FY 2014-15 and Municipal Revenue Sharing revenue by $3,240 in FY 2013-14 and by $4,506 in FY 2014-15.  Any additional costs associated with administering this exemption can be absorbed by Maine Revenue Services within existing budgeted resources.