125th MAINE LEGISLATURE
		LD 1096		LR 744(01)
	An Act To Enhance Economic Development by Encouraging Job and Business Growth in Maine's Aviation Industry
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Gerzofsky of Cumberland
	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		$2,470,000	$641,250	$641,250	$641,250
Revenue
	General Fund		($2,470,000)	($641,250)	($641,250)	($641,250)
	Other Special Revenue Funds		($130,000)	($33,750)	($33,750)	($33,750)
Fiscal Detail and Notes
	Expanding the sales tax exemption for aircraft purchased or leased by nonresidents and immediately transported out of the State and exempting from sales tax parts used exclusively in the replacement, overhaul and rebuilding of such aircraft retroactively to July 1, 2008 will reduce General Fund revenues and will reduce revenue sharing.  The retroactivity of the exemption results in greater revenue reductions in the first fiscal year of the exemption.