125th MAINE LEGISLATURE
		LD 647		LR 328(01)
	An Act To Exempt Retired Military Pay from State Income Tax
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Johnson of Greenville
	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		$1,425,000	$4,465,000	$7,220,000	$9,800,515
Revenue
	General Fund		($1,425,000)	($4,465,000)	($7,220,000)	($9,800,515)
	Other Special Revenue Funds		($75,000)	($235,000)	($380,000)	($515,817)
Fiscal Detail and Notes
	Exempting military pension benefits from state income tax will result in losses to the General Fund and reduce revenue sharing.