126th MAINE LEGISLATURE
		LD 1795		LR 2809(02)
	An Act To Remove Medical and Dental Expenses from the Itemized Deduction Cap
	Fiscal Note for Bill as Amended by Committee Amendment " "
	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		$0	($1,913,680)	($4,286,030)	($13,101,643)
Appropriations/Allocations
	Other Special Revenue Funds		$0	$2,600,000	$5,100,000	$1,600,000
Revenue
	General Fund		$0	$1,913,680	$4,286,030	$13,101,643
	Other Special Revenue Funds		$0	$2,700,720	$5,334,002	$2,289,560
Fiscal Detail and Notes
	This bill removes medical and dental expenses from the cap on itemized deductions and would result in a reduction in General Fund and Local Government Fund revenues of $5,097,320 and $268,280 in fiscal year 2014-15, respectively .
	The bill also includes an Other Special Revenue Funds allocation to the Bureau of Revenue Services of $2,600,000 in  fiscal year 2014-15 for contingent-fee payments for contracted tax collection services.  Expanded collection efforts are projected to increase gross tax collections by 9,980,000 in fiscal year 2014-15, with $7,011,000 going to the General Fund, $369,000 going to the Local Government Fund and $2,600,000 going to fund the allocation for contractor payments.