122nd MAINE LEGISLATURE
		LD 1595		LR 2080(02)
	An Act To Rebalance Maine's Tax Code
	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	$0	$0	($39,694,830)
Appropriations/Allocations
	General Fund		$788,921	$126,420,507	$82,275,617	$36,820,273
	Other Special Revenue Funds		($708,506)	$1,383,499	$1,859,902	$1,911,663
Revenue
	General Fund		$53,648,639	$81,342,639	$78,472,536	$76,515,103
	Other Special Revenue Funds		$141,126	$2,480,182	$2,663,861	$2,532,585
Transfers
	General Fund		($52,859,718)	$45,077,868	$3,803,081	$0
	Other Special Revenue Funds		$0	$0	$694,905	$0
Fiscal Detail and Notes					Projections	Projections
General Fund Summary of Cost (Savings)			2005-06	2006-07	2007-08	2008-09
	Income tax changes		$26,889,480	$69,269,635	$74,093,563	$79,336,009
	Health Savings Accounts		$579,852	$500,327	$560,051	$608,756
	Homestead Property Tax Reimbursement		$0	$36,267,826	$36,435,172	$36,602,518
	Circuit breaker maximum benefit to $3,000		$0	$14,416,779	$16,322,243	$17,739,825
	Expand sales/service provider tax base		($43,279,151)	($104,593,637)	($107,703,870)	($111,141,827)
	Meals and lodging to 8%, auto rentals to 15%		($15,450,859)	($25,200,353)	($25,700,948)	($26,700,894)
	Beer and wine tax increase		($8,200,000)	($12,400,000)	($12,400,000)	($12,400,000)
	Soft drink tax		($5,299,542)	($12,012,294)	($12,252,540)	($12,497,591)
	Real estate transfer tax		($8,888,419)	($11,323,096)	($11,391,035)	($11,459,381)
	Maine Budget Stabilization Fund transfer		$52,859,718	($45,077,868)	($4,497,986)	$0
	General Purpose Aid for Local Schools		$0	$89,953,276	$45,632,067	$0
	Fund for Efficient Delivery of Educ. Services		$0	$0	$694,905	$0
	Administrative costs		$788,921	$199,405	$208,378	$217,755
			$0	$0	$0	($39,694,830)