125th MAINE LEGISLATURE
		LD 1205		LR 426(02)
	An Act To Provide Economic Incentives to Businesses for the Collection of State Taxes
	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		$4,753,823	$8,859,817	$9,104,589	$9,431,612
Appropriations/Allocations
	General Fund		$10,000	$0	$0	$0
Revenue
	General Fund		($4,743,823)	($8,859,817)	($9,104,589)	($9,431,612)
	Other Special Revenue Funds		($263,546)	($570,382)	($653,444)	($677,545)
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 for tax years beginning on or after January 1, 2012 will reduce General Fund revenue and reduce revenue sharing.  This bill contains a one-time $10,000 General Fund appropriation in fiscal year 2011-12 for Maine Revenue Services to modify the sales tax return, change computer programs, modify reporting systems and to monitor compliance.