123rd MAINE LEGISLATURE
		LD 262		LR 673(02)
	An Act To Amend the Credit for Rehabilitation of Historic Properties
	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		$0	$87,097	$725,517	$2,124,112
Appropriations/Allocations
	Other Special Revenue Funds		$0	$500	$500	$500
Revenue
	General Fund		$0	($87,097)	($725,517)	($2,124,112)
	Other Special Revenue Funds		$0	($4,278)	($39,296)	($116,013)
Fiscal Detail and Notes
	Expanding future historic rehabilitation tax credits will reduce General Fund revenue by an estimated $87,097 in fiscal year 2007-08 and $725,517 in fiscal year 2008-09.  The cost of the bill outside of the forecast period is estimated to be $6,300,000, $10,300,000 and $13,700,000 in fiscal years 2011-12, 2012-13 and 2013-14, respectively.
	This bill includes an Other Special Revenue Funds base allocation of $500 in fiscal year 2008-09 for the costs to the Maine Historic Preservation Commission associated with administering the tax credit program that 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.