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121st Maine Legislature |
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Office of Fiscal and Program Review |
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LD 1699 |
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An Act
To Establish the Maine Military Family Relief Fund |
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LR 2522(02) |
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Fiscal Note for Bill as Amended by Committee
Amendment " " |
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Committee: Legal and Veterans Affairs |
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Fiscal Note Required: Yes |
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Fiscal Note |
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Projections |
Projections |
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2003-04 |
2004-05 |
2005-06 |
2006-07 |
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Net Cost
(Savings) |
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General Fund |
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$0 |
$10,791 |
$5,030 |
$5,145 |
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Appropriations/Allocations |
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General Fund |
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$0 |
$10,791 |
$5,030 |
$5,145 |
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Other Special Revenue Funds |
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$0 |
$60,000 |
$60,000 |
$60,000 |
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Revenue |
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Other Special Revenue Funds |
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$0 |
$60,000 |
$60,000 |
$60,000 |
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Fiscal Detail
and Notes |
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This bill is
expected to generate between $41,000 and $61,000 annually for the Maine
Military Family Relief Fund. It may
also reduce contributions to other dedicated check-off funds. Maine Revenue Services will require
$10,791 in fiscal year 2004-05 for the administrative costs associated with
the additional check-off. This fiscal
estimate reflects these amounts as a General Fund cost. If sufficient revenue is generated from
the check-off to support the $2,000 per year transfer to Maine Revenue
Services, the General Fund need would be approximately $8,800 in fiscal year
2004-05 and approximately $3,000 per year thereafter. |
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The Department of
Defense, Veterans and Emergency Management will need an Other Special Revenue
Funds allocation of $60,000 starting in fiscal year 2004-05. Although the new Maine Military Family
Relief Fund is authorized to begin for the tax year starting on January 1,
2004, the department will not receive any of the voluntary check-off revenue
until the collection of 2004 tax revenues is completed in fiscal year
2004-05. |
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