124th MAINE LEGISLATURE
		LD 540		LR 1129(01)
	An Act To Promote Forest Certification and Long-term Forest Management
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Watson of Bath
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			2009-10	2010-11	Projections 2011-12	Projections 2012-13
Net Cost (Savings)
	General Fund		$42,660	$42,660	$42,660	$42,660
Revenue
	General Fund		($42,660)	($42,660)	($42,660)	($42,660)
	Other Special Revenue Funds		($2,340)	($2,340)	($2,340)	($2,340)
Fiscal Detail and Notes
	Increasing the existing $200 maximum income tax credit allowed once in a ten year period for a professional forest land management plan, to a $400 maximum credit will produce an ongoing revenue loss  of $42,660 to the General Fund. Increasing the tax credit will also reduce revenue to and distributions from  Municipal Revenue Sharing by $2,340 each year. Administrative costs to Maine Revenue Services associated with this change can be absorbed within existing budgeted resources.