125th MAINE LEGISLATURE
		LD 140		LR 695(01)
	An Act To Eliminate the Restriction on Net Operating Loss Carry-forwards
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Hunt of Buxton
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$1,843,000	($190,000)	($247,000)	($380,000)
Revenue
	General Fund		($1,843,000)	$190,000	$247,000	$380,000
	Other Special Revenue Funds		($97,000)	$10,000	$13,000	$20,000
Fiscal Detail and Notes
	Eliminating the restriction on net operating loss carry-forwards (NOLs) for individual taxpayers would allow individuals to deduct NOLs for the purposes of computing Maine income tax, reducing revenues to both the General Fund and revenue sharing in fiscal year 2011-12.