121st Maine Legislature
		Office of Fiscal and Program Review
		LD 654
		An Act To Establish a Flat Tax Rate for the Maine Income Tax
		LR1516(01)
		Fiscal Note for Original Bill
		Sponsor: Rep. Cressey of Baldwin
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
Current biennium revenue decrease - General Fund
Current biennium cost increase - General Fund
Fiscal Detail and Notes
	Establishing a flat tax rate for Maine income tax is expected to reduce General Fund Revenue by approximately $200,000,000 in fiscal year 2003-04 and by approximately $400,000,000 in fiscal year 2004-05.  Maine Revenue Services will also require a one-time General Fund appropriation of $6,000 for the administrative costs associated with this change.