123rd MAINE LEGISLATURE
		LD 802		LR 1860(01)
	An Act To Ensure the Income Tax for Pensions Is Applied Fairly by Eliminating Reductions of Social Security and Railroad Benefits
	Fiscal Note for Original Bill
	Sponsor: Sen. Strimling of Cumberland
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$40,217,345	$30,010,773	$31,211,205	$32,459,653
Revenue
	General Fund		($40,217,345)	($30,010,773)	($31,211,205)	($32,459,653)
	Other Special Revenue Funds		($2,206,015)	($1,646,161)	($1,712,007)	($1,780,487)
Fiscal Detail and Notes
	Eliminating the income tax adjustment for certain social security and railroad retirement benefits will reduce General Fund revenue by an estimated $40,217,345 in fiscal year 2007-08 and $30,010,773 in fiscal year 2008-09.