121st Maine Legislature
		Office of Fiscal and Program Review
		LD 886
		An Act to Require State Reimbursement When Laws or Rules Devalue Private Property
		LR 1456(01)
		Fiscal Note for Original Bill
		Sponsor: Rep. Joy of Crystal
		Committee: Judiciary
		Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - General Fund
Current biennium cost increase - Highway Fund
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$374,321	$0	$0	$0
Appropriations/Allocations
	General Fund		$374,321	$0	$0	$0
Fiscal Detail and Notes
	The estimated cost for the joint standing committees to meet an average of four to five times to conduct the review required by this bill is $124,321.  The Legislature has budgeted $110,500 in fiscal year 2003-04 for four meetings for all committees to conduct authorized interim work.  If more than the budgeted number of meetings are required, the Legislature may require additional General Fund appropriations.  The Legislature would also be required to notify all property owners of the laws and rules that have been identified as resulting in the devaluation of property.  This notification will result in printing and mailing costs to property owners throughout the state.  Assuming there are approximately 500,000 property owners, the printing and mailing costs for a standard mailing would be a minimum of $250,000.  The Legislature will require an additional General Fund appropriation of $250,000 to cover these costs.
	Requiring that state agencies must reimburse property owners when property is devalued as a result of state regulation will increase General Fund and Highway Fund costs;  the amounts can not be determined at this time.