125th MAINE LEGISLATURE
		LD 384		LR 1137(01)
	An Act To Provide Incentives To Foster Economic Growth and Build Infrastructure in the State
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Picchiotti of Fairfield
	Committee: Labor, Commerce, Research and Economic Development
	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		$14,272,500	$46,257,500	$95,487,500	$191,750,000
Appropriations/Allocations
	General Fund		$14,272,500	$46,257,500	$95,487,500	$191,750,000
Fiscal Detail and Notes
	This legislation establishes the Film Production Cash Rebate Program Fund to be adminstered by the Office of Tourism within the Department of Economic and Community Development to provide cash rebates for certain film production company expenses when certain spending and investment criteria are met.  The Program will require an estimated General Fund appropriation of $14,272,500 in fiscal year 2011-12 and $46,257,500 in fiscal year 2012-13 to pay rebates.  These estimates were generated by benchmarking against the rebate percentages and payouts of other similar states and by incorporating a risk premium factor owing to the absence of a cap on rebate amounts.