121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1204
		An Act to Provide for Fairer Income Taxation
		LR 0319(01)
		Fiscal Note for Original Bill
		Sponsor: Sen. Strimling of Cumberland
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
Current biennium revenue decrease - General Fund
Fiscal Detail and Notes
	This bill is expected to reduce General Fund revenue by at least $8,000,000 per year.  This estimate is based on the assumption that the low-income tax credit is increased to the poverty level for one person.  If the low-income credit varies by the size of the family, the General Fund loss will be significantly larger.  Maine Revenue Services will also require a one-time General Fund appropriation of $10,000 for the administrative costs associated with this change.