125th MAINE LEGISLATURE
LD 476 LR 440(01)
An Act To Create a Sales Tax Holiday for Energy-efficient Appliances and Fixtures
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Edgecomb of Caribou
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 $139,688 $171,250 $171,250 $171,250
Appropriations/Allocations
General Fund $15,000 $5,000 $5,000 $5,000
Revenue
General Fund ($124,688) ($166,250) ($166,250) ($166,250)
Other Special Revenue Funds ($6,563) ($8,750) ($8,750) ($8,750)
Fiscal Detail and Notes
Creating an annual sales tax holiday for the purchase of energy-efficient appliances and fixtures will reduce General Fund revenue and reduce revenue sharing.  Administering the annual sales tax holiday will require tax form modifications in the first year of the holiday and will annually result in increased postage and mailing costs to the Bureau of Revenue Services.