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This
bill provides a nonrefundable income tax credit for certain taxpayers who
purchase a home computer. This change
will reduce sales and use tax collections by an estimated $13,566,643 in
fiscal year 2003-04 and $11,797,081 in fiscal year 2004-05. The reduction of these tax collections
will decrease the amounts transferred to the Local Government Fund for
state-municipal revenue sharing by $705,465 and $613,448 in those years. The resulting net reduction of General
Fund revenue is estimated to be $12,861,178 in fiscal year 2003-04 and
$11,183,633 in fiscal year 2004-05.
Maine Revenue Services will also require a General Fund appropriation
of $19,171 in fiscal year 2003-04 and $13,979 in fiscal year 2004-05 for the
administrative costs associated with this change. |
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