128th MAINE LEGISLATURE
		LD 337		LR 800(02)
	An Act To Protect Jobs and the Maine Economy by Eliminating the 3% Income Tax Surcharge Imposed on Certain Mainers and the Fund To Advance Public Kindergarten to Grade 12 Education
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
			FY 2017-18	FY 2018-19	Projections  FY 2019-20	Projections  FY 2020-21
Net Cost (Savings)
	General Fund		$100,089,000	($2,450,000)	($2,375,000)	($2,897,500)
Appropriations/Allocations
	General Fund		$31,000	$0	$0	$0
Revenue
	General Fund		($100,058,000)	$2,450,000	$2,375,000	$2,897,500
	Other Special Revenue Funds		($76,279,590)	($153,917,410)	($163,682,500)	($174,750,250)
Fiscal Detail and Notes
	This bill repeals the 3% income tax surcharge for tax years beginning on or after 1-1-17 and results in a reduction in General Fund revenue of $100,058,000 in fiscal year 2017-18 and an increase in General Fund revenue of $2,450,000 in fiscal year 2018-19.  It also results in a reduction in Local Government Fund revenue of $1,879,590 in fiscal year 2017-18 and $117,410 in fiscal year 2018-19.
	The reduction in dedicated revenue to the Fund to Advance Public Kindergarten to Grade 12 Education within the Department of Education is estimated to be $74,400,000 in fiscal year 2017-18 and $153,800,000 in fiscal year 2018-19.