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127th MAINE LEGISLATURE |
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LD 1670 |
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LR 2768(04) |
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An Act To Attract
Investment to Loring Commerce Centre |
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Fiscal Note for
House Amendment " " to Committee Amendment "A" |
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Sponsor: Rep. Martin of Eagle Lake |
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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 |
$0 |
($637,000) |
($637,000) |
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| Revenue |
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General Fund |
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$0 |
$0 |
$637,000 |
$637,000 |
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Other Special Revenue Funds |
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$0 |
$0 |
$13,000 |
$13,000 |
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| Fiscal Detail
and Notes |
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This amendment
limits the payment of the increased employment tax increment to one year
rather than 5 years as specified in the committee amendment. This provision would eliminate the General
Fund and Local Government Fund revenue losses in fiscal year 2017-18 and
after but keeps the revenue loss in 2016-17. It also eliminates the reporting
requirement of the Loring Development Authority. |
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