123rd MAINE LEGISLATURE
		LD 544		LR 1468(01)
	An Act To Provide Maine Land Conservation Tax Incentives
	Fiscal Note for Original Bill
	Sponsor: Rep. Watson of Bath
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$3,255,706	$2,919,120	$3,007,283	$3,098,133
Appropriations/Allocations
	General Fund		$51,751	$47,814	$49,838	$51,963
Revenue
	General Fund		($3,203,955)	($2,871,306)	($2,957,445)	($3,046,170)
	Other Special Revenue Funds		($175,744)	($157,498)	($162,223)	($167,089)
Fiscal Detail and Notes
	Establishing a transferable income tax credit for certain conservation contributions will reduce General Fund revenue by an estimated $3,203,955 in fiscal year 2007-08 and $2,871,306 in fiscal year 2008-09.  Maine Revenue Services will also require a General Fund appropriation of $51,751 in fiscal year 2007-08 and $47,814 in fiscal year 2008-09 for the administrative costs associated with the new credit, including funds for one part-time Tax Analyst position.