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127th MAINE LEGISLATURE |
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LD 1481 |
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LR 2215(02) |
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An Act To Protect
Maine's Natural Resources Jobs by Exempting from Sales Tax Petroleum Products
Used in Commercial Farming, Fishing and Forestry |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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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 |
$8,771,980 |
$10,017,152 |
$10,901,174 |
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| Revenue |
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General Fund |
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$0 |
($8,771,980) |
($10,017,152) |
($10,901,174) |
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Other Special Revenue Funds |
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$0 |
($179,020) |
($204,432) |
($222,473) |
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| Fiscal Detail
and Notes |
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This legislation
proposes a sales tax exemption on the purchase of fuel used in commercial
agricultural production, commercial fishing, commercial aquacultural
production and commercial wood harvesting and would result in a loss of
General Fund and Local Government Fund revenue in fiscal year 2016-17 of
$8,771,980 and $179,020, respectively. |
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