123rd MAINE LEGISLATURE
		LD 313		LR 730(01)
	An Act To Extend the Property Tax Exemption for Veterans to Persons Living in Cooperative Housing
	Fiscal Note for Original Bill
	Sponsor: Rep. Cain of Orono
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
State Mandate - Unfunded
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$800	$17,909	$18,532	$19,177
Appropriations/Allocations
	General Fund		$800	$17,909	$18,532	$19,177
State Mandates					Unit Affected	Costs
	Process veteran's property tax exemption applications from cooperative housing corporations				Municipality	Insignificant
Fiscal Detail and Notes
	The cost of reimbursing municipalities for 50% of the local revenue loss is estimated to be $17,809 in fiscal year 2008-09.  In addition, Maine Revenue Services is required to reimburse municipalities for 90% of the administrative costs associated with processing applications from cooperative housing corporations.  That cost is etimated to be $800 in fiscal year 2007-08 and $100 in fiscal year 2008-09.