123rd MAINE LEGISLATURE
		LD 2099		LR 3303(01)
	An Act To Provide Property and Excise Tax Relief to Disabled Maine Veterans
	Fiscal Note for Original Bill
	Sponsor: Rep. Wheeler of Kittery
	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	$2,860,000	$2,945,800
Appropriations/Allocations
	General Fund		$0	$0	$2,860,000	$2,945,800
State Mandates
	Required Activity				Unit Affected	Costs
	Administrative activities associated with implementing changes to the veterans' property tax exemption and the excise tax are State mandates under the Constitution of Maine.				Municipality	Significant
Fiscal Detail and Notes
	The General Fund cost to reimburse municipalities for 50% of the property tax revenue loss that results from expanding the veterans' property tax exemption is estimated to be $2,860,000 in fiscal year 2009-10 and $2,945,800 in fiscal year 2010-11.  This estimate is based on homestead property and does not reflect the cost associated with a property tax exemption for business property or other real estate.  The municipalities will not be reimbursed for any loss of excise tax revenue.