| 122nd MAINE LEGISLATURE | |||||||||
| LD 778 | LR 1663(01) | ||||||||
| An Act To Exempt the Sale of Electric, Hybrid or Hydrogen-Fueled Vehicles from State Sales Tax and Excise Tax | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Rep. Cressey of Cornish | |||||||||
| Committee: Taxation | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $231,345 | $334,165 | $347,532 | $361,433 | |||||
| Revenue | |||||||||
| General Fund | ($231,345) | ($334,165) | ($347,532) | ($361,433) | |||||
| Other Special Revenue Funds | ($12,690) | ($18,330) | ($19,063) | ($19,825) | |||||
| Fiscal Detail and Notes | |||||||||
| Changing the sales and use tax provisions for the sale of electric, hybrid or hydrogen-fueled vehicles is expected to reduce General Fund revenue by $231,345 in fiscal year 2005-06 and $334,165 in fiscal year 2006-07 assuming an October 1, 2005 effective date. | |||||||||