125th MAINE LEGISLATURE
		LD 1147		LR 254(06)
	An Act To Conform Maine's Estate Tax to the Federal Estate Tax
	Fiscal Note for Senate Amendment "   " to Committee Amendment "A"
	Sponsor: Sen. Diamond of Cumberland
	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		$0	($8,371,548)	($9,802,883)	($10,145,717)
Revenue
	General Fund		$0	$8,371,548	$9,802,883	$10,145,717
Fiscal Detail and Notes
	Decreasing the Maine estate tax exclusion amount from $5 million proposed in committee amendment to $2 million and changing the tiers of the graduated estate tax rate structure in the committee amendment by imposing an 8% rate on estates of at least $2 million but less than $5 million, 10% on estates of at least $5 million but less than $8 million and 12% on estates valued more than $8 million will increase revenue to the General Fund compared to the committee amendment starting in fiscal year 2012-13.  This fiscal note reflects the incremental effect of this Senate amendment compared to the committee amendment.  The overall fiscal impact after this Senate amendment will be a General Fund revenue loss of $137,500 in fiscal year 2011-12 and $20,753,017 in fiscal year 2012-13.