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128th MAINE LEGISLATURE |
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LD 1172 |
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LR 1602(01) |
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An Act To Repeal
the Maine Personal Property Tax |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Cushing of Penobscot |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$60,081,377 |
$47,100,000 |
$46,800,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$60,081,377 |
$47,100,000 |
$46,800,000 |
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| Fiscal Detail
and Notes |
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The Department of
Administrative and Financial Services will require a General Fund
appropriation of $60,081,377 in fiscal year 2018-19 to reimburse
municipalities 50% of the revenue loss due to the repeal of the tax on
personal property. |
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