123rd MAINE LEGISLATURE
		LD 872		LR 214(02)
	An Act To Exempt Military Pensions and Survivors' Benefit Payments from State Income Tax
	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		$12,286,964	$9,380,518	$9,957,045	$10,561,025
Appropriations/Allocations
	General Fund		$11,000	$0	$0	$0
Revenue
	General Fund		($12,275,964)	($9,380,518)	($9,957,045)	($10,561,025)
	Other Special Revenue Funds		($673,365)	($514,543)	($546,167)	($579,297)
Fiscal Detail and Notes
	Exempting from the state income tax certain military retirement benefits will reduce General Fund revenue by an estimated $12,275,964 in fiscal year 2007-08 and $9,380,518 in fiscal year 2008-09.  This bill also includes a one-time General Fund appropriation of $11,000 in fiscal year 2007-08 for Maine Revenue Services' related computer programming costs.