125th MAINE LEGISLATURE
		LD 415		LR 597(01)
	An Act To Provide a Sales Tax Trade-in Credit for Core Parts
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Thomas of Somerset
	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		$6,056,250	$8,075,000	$8,075,000	$8,075,000
Revenue
	General Fund		($6,056,250)	($8,075,000)	($8,075,000)	($8,075,000)
	Other Special Revenue Funds		($318,750)	($425,000)	($425,000)	($425,000)
Fiscal Detail and Notes
	Providing a sales tax trade-in credit for core parts will reduce General Fund revenue by an estimated $8,075,000 annually and also reduce revenue sharing.  The Bureau of Revenue Services can absorb the cost of administering the sales tax trade-in credit within existing budgeted resources.