| 122nd MAINE LEGISLATURE | |||||||||
| LD 2056 | LR 3069(05) | ||||||||
| An Act To Replace Municipal Revenues Subject to Business Equipment Property Tax Exemption | |||||||||
| Fiscal Note for Senate Amendment " " to Committee Amendment "A" | |||||||||
| Sponsor: Sen. Perry | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Future biennium cost increase - General Fund | |||||||||
| Future biennium revenue decrease - Federal Expenditures Fund | |||||||||
| Future biennium revenue increase - Other Special Revenue Funds | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Revenue | |||||||||
| Other Special Revenue Funds | $0 | $0 | $15,205,794 | $15,556,968 | |||||
| Fiscal Detail and Notes | |||||||||
| This bill will increase Other Special Revenue Funds in the Department of Health and Human Services by approximately $15,000,000 annually beginning in fiscal year 2007-08 as a result of the property tax on nonprofit hospitals. If this tax violates federal regulations regarding limitations on health care-related taxes this amendment will trigger a reduction in federal Medicaid funds. The Department of Health and Human Services will require additional General Fund appropriations equal to the lost Federal Expenditures Fund revenue to support MaineCare program costs. | |||||||||