LD 441 LR 557(05)
An Act To Make Telecommunications Personal Property Tax Law Equitable
Fiscal Note for Bill as Engrossed with:
C "A" (H-477)
S "A" (S-347) to C "A" (H-477)
Committee: Taxation
Fiscal Note
FY 2011-12 FY 2012-13 Projections  FY 2013-14 Projections  FY 2014-15
Net Cost (Savings)
General Fund ($152,518) $152,518 $305,036 $305,036
General Fund $152,518 ($152,518) ($305,036) ($305,036)
Fiscal Detail and Notes
This bill increases the mill rate for Telecommunication Personal Property Tax assessements in 2012 from 19 mills to 19.2 mills, which will generate $152,528 of additional General Fund revenue in fiscal year 2011-12.  Beginning in fiscal year 2012-13, the new tax structure for telecommunications personal property will decrease General Fund revenue from current estimates by $152,518 in fiscal year 2012-13 and $305,036 annually in fiscal year 2013-14 and 2014-15.
Any rulemaking and other administrative costs can be absorbed by Maine Revenue Services within existing budgeted resources.