123rd MAINE LEGISLATURE
		LD 262		LR 673(01)
	An Act To Amend the Credit for Rehabilitation of Historic Properties
	Fiscal Note for Original Bill
	Sponsor: Rep. Koffman of Bar Harbor
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$290,572	$11,298,754	$3,798,122	$9,913,998
Revenue
	General Fund		($290,572)	($11,298,754)	($3,798,122)	($9,913,998)
	Other Special Revenue Funds		($15,938)	($619,763)	($208,336)	($543,806)
Fiscal Detail and Notes
	Expanding the historic rehabilitation tax credit will reduce General Fund revenue by an estimated $290,572 in fiscal year 2007-08 and $11,298,754 in fiscal year 2008-09.
	Additional costs to the Maine Historic Preservation Commission associated with administering the tax credit program will be offset by the provision in the bill which allows for the establishment of processing fees to be used to support the administration of the program.