| 122nd MAINE LEGISLATURE | |||||||||
| LD 507 | LR 0519(01) | ||||||||
| An Act To Establish Individual Medical Savings Accounts | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. McKane of Newcastle | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $2,263,766 | $5,260,841 | $5,629,952 | $6,016,507 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $101,141 | $100,669 | $109,355 | $113,410 | |||||
| Revenue | |||||||||
| General Fund | ($2,162,625) | ($5,160,172) | ($5,520,597) | ($5,903,097) | |||||
| Other Special Revenue Funds | ($118,625) | ($283,048) | ($302,818) | ($323,798) | |||||
| Fiscal Detail and Notes | |||||||||
| This bill is expected to reduce General Fund revenue by $2,162,625 in fiscal year 2005-06 and $5,160,172 in fiscal year 2006-07 as a result of the treatment of individual medical savings accounts. Maine Revenue Services will also require General Fund appropriations of $101,141 in fiscal year 2005-06 and $100,669 in fiscal year 2006-07 for the administrative costs associated with these changes. | |||||||||