| 124th MAINE LEGISLATURE | ||||||
| LD 1190 | LR 550(01) | |||||
| An Act To Amend the Motor Vehicle Laws | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Sen. Damon of Hancock | ||||||
| Committee: Transportation | ||||||
| Fiscal Note Required: No | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| 2009-10 | 2010-11 | Projections 2011-12 | Projections 2012-13 | |||
| Net Cost (Savings) | ||||||
| Highway Fund | ($257,250) | ($257,988) | ($257,988) | ($257,988) | ||
| Appropriations/Allocations | ||||||
| Highway Fund | $738 | $0 | $0 | $0 | ||
| Other Special Revenue Funds | ($92,988) | ($92,988) | ($92,988) | ($92,988) | ||
| Revenue | ||||||
| Highway Fund | $257,988 | $257,988 | $257,988 | $257,988 | ||
| Fiscal Detail and Notes | ||||||
| The Secretary of State will require a one-time Highway Fund allocation of $738 in fiscal year 2009-10 for programming changes to extend title requirements to motor vehicles with a model year of 1995 or after. This change will increase Highway Fund revenues by $165,000 beginning in fiscal year 2009-10. This legislation also limits the truck excise tax reimbursement to vehicles five years old or less and will result in Other Special Revenue Funds savings of $92,988 beginning in fiscal year 2009-10 and a corresponding increase in Highway Fund revenue. Additional changes made in this legislation will increase or decrease Highway Fund revenue by minor amounts not requiring any change to the budget. | ||||||