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126th MAINE LEGISLATURE |
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LD 1633 |
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LR 2439(02) |
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An Act To Extend
the Date for a Business in a Tier 2 Location To Qualify for Pine Tree
Development Zone Benefits |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Labor, Commerce, Research and
Economic Development |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2013-14 |
FY 2014-15 |
Projections FY 2015-16 |
Projections FY 2016-17 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$534,375 |
$1,027,187 |
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| Revenue |
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General Fund |
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$0 |
$0 |
($534,375) |
($1,027,187) |
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Other Special Revenue Funds |
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$0 |
$0 |
($28,125) |
($54,063) |
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| Fiscal Detail
and Notes |
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This bill
establishes a new Tier 3 Pine Tree Development Zone and extends the sunset
date for new Tier 2 Zone certifications.
These provisions would result in a loss of General Fund and Local
Government Fund revenue of $534,375 and $28,125 in fiscal year 2015-16 and
$1,027,187 and $54,063 in fiscal year 2016-17, respectively. |
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Additional costs
to the Department of Economic and Community Development associated with the
certification process can be absorbed within existing budgeted resources. |
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