126th MAINE LEGISLATURE
		LD 260		LR 819(02)
	An Act To Extend Funding for the Loring Job Increment Financing Fund
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Labor, Commerce, Research and Economic Development
	Fiscal Note Required: Yes
Fiscal Note
Future biennium revenue decrease - General Fund
Fiscal Detail and Notes
	Extending the statutory sunset of transfers to the Loring Job Increment Financing Fund from tax year beginning on or after July 1, 2016 to tax year beginning on or after July 1, 2026 will require Maine Revenue Services to continue to transfer approximately $900,000 to $1,000,000 annually during that time period. This will result in a reduction in General Fund revenue of that amount annually with the last transfer occurring in the fiscal year ending June 30, 2028.