123rd MAINE LEGISLATURE
		LD 566		LR 1899(01)
	An Act To Increase the Property Tax Exemption for Certain Veterans and Surviving Spouses
	Fiscal Note for Original Bill
	Sponsor: Sen. Raye of Washington
	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		$0	$0	$2,961,135	$3,064,775
Appropriations/Allocations
	General Fund		$0	$0	$2,961,135	$3,064,775
State Mandates
	Required Activity				Unit Affected	Costs
	Administrative activities associated with applying the provisions retroactively to April 1, 2007 may include adjustiing assessments or providing abatements.  Although the cost of these activities should be relatively small, a state mandate would be created.				Municipality	Insignificant
Fiscal Detail and Notes
	The cost of reimbursing municipalities for 50% of the loss of local revenue is estimated to be $2,961,135 in fiscal year 2009-10 and $3,064,775 in fiscal year 2010-2011.