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127th MAINE LEGISLATURE |
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LD 1505 |
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LR 2193(02) |
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An Act To
Facilitate Student Loan Repayment by Allowing Graduates To Claim Educational
Opportunity Tax Credits on Eligible Portions of Consolidated Loans |
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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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$24,500 |
$0 |
$0 |
$0 |
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| Revenue |
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General Fund |
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($24,500) |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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($500) |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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PL 2015, c. 267,
Pt. QQQ expanded the educational opportunity tax credit to include
consolidated loans for tax years beginning on or after January 1, 2016. This
legislation provides that consolidated loans are eligible in tax year 2015
provided that the consolidated loans only include educational loans. This
would reduce General Fund revenue by $24,500 in fiscal year 2015-16 and
reduce Local Government Fund revenue by $500 in fiscal year 2015-16. |
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