123rd MAINE LEGISLATURE
		LD 313		LR 730(02)
	An Act To Extend the Property Tax Exemption for Veterans to Persons Living in Cooperative Housing
	Fiscal Note for Bill as Amended by Committee Amendment "     "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
State Mandate - Exempted
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$0	$17,809	$18,432	$19,077
Appropriations/Allocations
	General Fund		$0	$17,809	$18,432	$19,077
State Mandates
	Required Activity				Unit Affected	Costs
	Processing veteran's property tax exemption applications from cooperative housing corporations.  Pursuant to the mandate preamble, the 2/3s vote of each house of the legislature exempts the state from its obligation to pay 90% of the cost of this state mandate to the local units if government.				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 would have been required to reimburse municipalities for 90% of the administrative costs associated with processing applications from cooperative housing corporations.  That requirement is negated by inclusion of the mandate preamble in the bill.