123rd MAINE LEGISLATURE
LD 325 LR 788(02)
An Act To Clarify the Tax-exempt Status of Ornamental Horticulture
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 $127,540 $147,888 $153,804 $159,956
Appropriations/Allocations
General Fund $28,000 $0 $0 $0
Revenue
General Fund ($99,540) ($147,888) ($153,804) ($159,956)
Other Special Revenue Funds ($5,460) ($8,112) ($8,436) ($8,774)
Fiscal Detail and Notes
Expanding the sales tax exemption for commercial agricultural production will reduce Sales and Use Tax revenue by $105,000 in fiscal year 2007-08 and $156,000 in fiscal year 2008-09, resulting in a General Fund revenue loss of $99,540 and $147,888, respectively.  This bill also includes a one-time General Fund appropriation of $28,000 in fiscal year 2007-08 for Maine Revenue Services retailer notification costs.