| 123rd MAINE LEGISLATURE | ||||||
| LD 54 | LR 335(01) | |||||
| An Act To Conform Maine Law with Federal Law Regarding Tax Credits for Adoptions | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Rep. Duprey of Hampden | ||||||
| Committee: Taxation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $91,937 | $408,731 | $429,168 | $450,626 | ||
| Appropriations/Allocations | ||||||
| General Fund | $11,000 | $0 | $0 | $0 | ||
| Revenue | ||||||
| General Fund | ($80,937) | ($408,731) | ($429,168) | ($450,626) | ||
| Other Special Revenue Funds | ($4,440) | ($22,420) | ($23,541) | ($24,718) | ||
| Fiscal Detail and Notes | ||||||
| This bill will reduce Income Tax collections by $85,377 in fiscal year 2007-08 and $431,151 in fiscal year 2008-09, resulting in a General Fund revenue loss of $80,937 and $408,731 respectively. Maine Revenue Services will also require a one-time General Fund appropriation of $11,000 in fiscal year 2007-08 for the computer programming costs associated with this new credit. | ||||||