121st Maine Legislature
		Office of Fiscal and Program Review
		LD 1633
		An Act Regarding Conformity with the Federal Jobs and Growth Tax Relief Reconciliation Act of 2003
		LR 2170(04)
		Fiscal Note for Bill as Amended by Committee Amendment " "
		Committee: Taxation
		Fiscal Note Required: Yes
		Minority
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings)
	General Fund		$4,173,313	$29,725,923	$1,060,408	($11,122,010)
Appropriations/Allocations
	General Fund		($50,000,000)	$0	$0	$0
	Federal Block Grant Funds		$50,000,000	$0	$0	$0
Revenue
	General Fund - Income Tax		($54,173,313)	($29,725,923)	($1,060,408)	$11,122,010
	Other Special Revenue - Income Tax		($2,911,316)	($1,597,494)	($58,166)	$610,068
Fiscal Detail and Notes
	This bill requires the state to conform to recent federal income tax law changes contained in the federal Jobs and Growth Tax Relief Reconciliation Act of 2003, Public Law 108-27.  It utilizes $50,000,000 of federal relief funds to partially offset the General Fund Revenue loss.  The same $50,000,000 is contained in Committee Amendment "A" to LD 1614, the governor's supplemental budget.