123rd MAINE LEGISLATURE
LD 236 LR 64(02)
An Act To Exempt from the Income Tax Military Pay of Maine Residents Who Are Members of the Armed Services Stationed outside of the State Earned while on Active Duty
Fiscal Note for Bill as Amended by Committee Amendment "     "
Committee: Taxation
Fiscal Note Required: Yes
             
Fiscal Note
2007-08 2008-09 Projections 2009-10 Projections 2010-11
Net Cost (Savings)
General Fund $2,583,920 $1,917,444 $1,975,318 $2,034,955
Appropriations/Allocations
General Fund $35,046 $35,826 $37,251 $38,746
Revenue
General Fund ($2,548,874) ($1,881,618) ($1,938,067) ($1,996,209)
Other Special Revenue Funds ($139,812) ($103,211) ($106,307) ($109,497)
Fiscal Detail and Notes
The estimated General Fund cost of exempting certain military pay from the income tax is estimated to be $2,548,874 in fiscal year 2007-08 and $1,881,618 in fiscal year 2008-09.  This bill also includes a General Fund appropriation of $35,046 in fiscal year 2007-08 and $35,826 in fiscal year 2008-09 for Maine Revenue Services related administrative costs, including funds for one part-time Tax Examiner position to audit a portion of the returns.