125th MAINE LEGISLATURE
		LD 1826		LR 2763(03)
	An Act To Review and Repeal Income Tax Return Checkoffs
	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		$0	$0	($28,874)	($28,874)
Appropriations/Allocations
	General Fund		$0	$0	($50,800)	($50,800)
Revenue
	General Fund		$0	$0	($21,926)	($21,926)
	Other Special Revenue Funds		$0	$0	($1,154)	($1,154)
Fiscal Detail and Notes
	Maine Revenue Services estimates that the elimination of income tax checkoffs would reduce their annual operating expenses by $50,800, beginning with FY 2013-14. The retention of a small portion of the revenue from the checkoff funds has historically served to partially offset the costs of administering the funds by annually generating estimated General Fund revenue of $21,926 and revenue sharing of $1,154.  These amounts will not be available after the tax checkoffs are eliminated. The combined effect on the General Fund would be an annual savings of $28,874 beginning with FY 2013-14. Contributions collected via the income tax checkoff mechanism totalled $141,876 in FY 2010-11.