125th MAINE LEGISLATURE
		LD 1205		LR 426(01)
	An Act To Provide Economic Incentives to Businesses for the Collection of State Taxes
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. McClellan of Raymond
	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		$10,175,000	$10,165,000	$10,165,000	$10,165,000
Appropriations/Allocations
	General Fund		$10,000	$0	$0	$0
Revenue
	General Fund		($10,165,000)	($10,165,000)	($10,165,000)	($10,165,000)
	Other Special Revenue Funds		($535,000)	($535,000)	($535,000)	($535,000)
Fiscal Detail and Notes
	Permitting retailers required to register under the sales and use tax law to deduct and retain up to 1% of the sales and use taxes that they collect will reduce tax collections by an estimated $10,700,000 annually, reducing revenues to the General Fund and to revenue sharing.  A one-time $10,000 General Fund appropriation will be required in fiscal year 2011-12 to modify the sales tax return, change computer programs, modify reporting systems and to monitor compliance.