| 122nd MAINE LEGISLATURE | |||||||||
| LD 580 | LR 2031(02) | ||||||||
| An Act To Encourage Downtown and Urban Revitalization while Meeting the Requirements of New Storm Water Rules | |||||||||
| Fiscal Note for Bill as Amended by Committee Amendment " " | |||||||||
| 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. This bill also includes a General Fund appropriation of $20,000 in fiscal year 2005-06 for Maine Revenue Services for the computer programming associated with this new income tax credit. The additional costs associated with certifying amounts paid for mitigation can be absorbed by the Department of Environmental Protection utilizing existing budgeted resources. | |||||||||