| 122nd MAINE LEGISLATURE | |||||||||
| LD 580 | LR 2031(01) | ||||||||
| An Act To Encourage Downtown and Urban Revitalization while Meeting the Requirements of New Storm Water Rules | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Bromley of Cumberland | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $86,859 | $68,865 | $70,856 | $72,982 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $20,000 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | ($66,859) | ($68,865) | ($70,856) | ($72,982) | |||||
| Other Special Revenue Funds | ($3,593) | ($3,701) | ($3,887) | ($4,003) | |||||
| Fiscal Detail and Notes | |||||||||
| Establishing an income tax credit equal to the storm water management user fee is expected to reduce General Fund revenue by $66,859 in fiscal year 2005-06 and $68,865 in fiscal year 2006-07. Maine Revenue Services will also require a General Fund appropriation of $20,000 in fiscal year 2005-06 for the computer programming associated with this new income tax credit. | |||||||||