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127th MAINE LEGISLATURE |
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LD 759 |
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LR 626(01) |
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An Act To
Establish a Sales Tax Holiday |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Kinney of Knox |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2015-16 |
FY 2016-17 |
Projections FY 2017-18 |
Projections FY 2018-19 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$3,705,000 |
$3,853,200 |
$4,007,328 |
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| Revenue |
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General Fund |
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$0 |
($3,705,000) |
($3,853,200) |
($4,007,328) |
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Other Special Revenue Funds |
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$0 |
($195,000) |
($202,800) |
($210,912) |
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| Fiscal Detail
and Notes |
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Establishing an
annual sales tax holiday on the 2nd Saturday in August for sales of certain
clothing and school supplies would result in a loss of General Fund revenue
of $3,705,000 and a loss of Local Governement Fund revenue of $195,000 in
fiscal year 2016-17. |
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