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126th MAINE LEGISLATURE |
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LD 1762 |
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LR 2721(01) |
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An Act Related to
the Report of the Tax Expenditure Review Task Force |
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Fiscal Note for
Original Bill |
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Committee: Appropriations and Financial Affairs |
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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 |
$15,000,000 |
$0 |
$0 |
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| Revenue |
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General Fund |
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$0 |
($40,000,000) |
$0 |
$0 |
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Other Special Revenue Funds |
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$0 |
$40,000,000 |
$0 |
$0 |
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| Transfers |
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General Fund |
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$0 |
$25,000,000 |
$0 |
$0 |
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| Fund Detail by
Section |
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| Revenue |
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General Fund |
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Section 1 |
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$0 |
($40,000,000) |
$0 |
$0 |
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Other Special Revenue Funds |
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Section 1 |
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$0 |
$40,000,000 |
$0 |
$0 |
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| Transfers |
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General Fund |
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Section 4 |
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$0 |
$4,000,000 |
$0 |
$0 |
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Section 5 |
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$0 |
$21,000,000 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill has a
net General Fund cost of $15,000,000 in fiscal year 2014-15. The General Fund cost of the elimination of
the $40,000,000 contingent reduction to municipal revenue sharing is
partially offset by transfers from the Maine Residents Tax Relief Fund and
the Maine Budget Stabilization Fund. |
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It also changes
the distribution of the General Fund unappropriated surplus at the close of
fiscal year 2013-14, also known as the "Cascade," to replace the
fourth priority transfer of up to $40,000,000 to municipal revenue sharing
with a transfer of up to $21,000,000 to the Maine Budget Stabilization Fund. |
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