125th MAINE LEGISLATURE
		LD 1137		LR 896(02)
	An Act To Conform Business Expense Deductions to Federal Law
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Net Cost (Savings)
	General Fund		$7,197,960	$2,065,504	($1,702,489)	($1,439,495)
Revenue
	General Fund		($7,197,960)	($2,065,504)	$1,702,489	$1,439,495
	Other Special Revenue Funds		($378,840)	($108,711)	$89,605	$75,763
Fiscal Detail and Notes
	Permitting businesses including corporations to claim business expense deductions for purchases to the same extent as permitted by federal law will reduce General Fund revenue and reduce revenue sharing in fiscal years 2011-12 and 2012-13.  Beginning in fiscal year 2013-14, General Fund revenues will increase as well as revenue sharing owing to the smaller depreciation allowances that are anticipated to commence in that fiscal year.