121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1249
		An Act To Amend the Laws Governing the Quality Child Care Tax Credit
		LR 0398(02)
		Fiscal Note for Bill as Amended by Committee Amendment " "
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$8,304	$55,517	$64,938	$78,447
Revenue
	General Fund		($8,304)	($55,517)	($64,938)	($78,447)
	Other Special Revenue Funds		($446)	($2,983)	($3,562)	($4,303)
Fiscal Detail and Notes
	Providing an income tax credit for contributions made to quality child care services will reduce income tax collections by an estimated $8,750 in fiscal year 2003-04 and $58,500 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 in those years by $446 and $2,983.  The resulting net reduction of General Fund revenue is estimated to be $8,304 in fiscal year 2003-04 and $55,517 in fiscal year 2004-05.