126th MAINE LEGISLATURE
		LD 361		LR 1437(01)
	An Act To Promote Plug-in Electric Vehicle Sales
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Gratwick of Penobscot
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium revenue decrease - General Fund
Fiscal Detail and Notes
	This bill provides an income tax credit for the purchase of qualified plug-in vehicles equal to the excise tax paid on such vehicles up to a maximum credit of $1,000 until January 1, 2017.  A similar bill, LD 1086, was introduced last legislative session and the projected General Fund revenue reduction associated with the proposed income tax credit ranged from $350,000 in the earlier years to $640,000 in the later years.  A reduction in municpal revenue sharing was also identified.