| 122nd MAINE LEGISLATURE | |||||||||
| LD 1625 | LR 2265(06) | ||||||||
| An Act To Fully Fund the Homestead Exemption | |||||||||
| Fiscal Note for Senate Amendment " " to Committee Amendment " " | |||||||||
| Sponsor: Sen. Courtney | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Future biennium cost increase - General Fund | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $0 | $0 | $37,846,373 | $39,462,823 | |||||
| Appropriations/Allocations | |||||||||
| General Fund | ($33,600,000) | $0 | $37,846,373 | $39,462,823 | |||||
| Transfers | |||||||||
| General Fund | ($33,600,000) | $0 | $0 | $0 | |||||
| Fiscal Detail and Notes | |||||||||
| The additional cost of reimbursing municipalities 100% of the property tax revenue loss associated with the homestead exemption is estimated to be $37,283,325 in fiscal year 2007-08 and $38,327,258 in fiscal year 2008-09. This amendment also removes the General Fund appropriations and transfers. | |||||||||