125th MAINE LEGISLATURE
		LD 707		LR 743(01)
	An Act To Increase the State Earned Income Credit
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Stuckey of Portland
	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		$38,119,971	$38,144,101	$38,144,101	$38,144,101
Appropriations/Allocations
	General Fund		$119,971	$144,101	$144,101	$144,101
Revenue
	General Fund		($38,000,000)	($38,000,000)	($38,000,000)	($38,000,000)
	Other Special Revenue Funds		($2,000,000)	($2,000,000)	($2,000,000)	($20,000,000)
Fiscal Detail and Notes
	Increasing the state earned income tax credit from 5% of the federal earned income credit to 25% of the federal earned income credit for any given tax year and making the credit fully refundable will result in reduced revenue to the General Fund and will reduce revenue sharing commencing in fiscal year 2011-12.  Changing the administration of the existing state earned income tax credit will also require a General Fund appropriation for two additional Tax Examiner positions and related administrative support.