| 122nd MAINE LEGISLATURE | |||||||||
| LD 626 | LR 2054(02) | ||||||||
| An Act To Require the Net Proceeds from the Sale of a Foreclosed Property To Be Returned to the Former Owner | |||||||||
| 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 | $0 | $13,666,500 | $14,349,825 | $15,067,316 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | $0 | $13,666,500 | $14,349,825 | $15,067,316 | |||||
| State Mandate | |||||||||
| New or Expanded Activity | Unit Affected | Costs | |||||||
| The estimated cost of requiring a municipality to disburse excess funds to former owners is estimated to be $13,500,000 in fiscal year 2006-07. The cost of the administrative aspects of these provisions is estimated to be $166,500 in fiscal year 2006-07. | Municipality | $13,666,500 | |||||||
| Fiscal Detail and Notes | |||||||||
| Appropriations are included in the bill to fund 90% of the cost of the mandated provisions. | |||||||||