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128th MAINE LEGISLATURE |
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LD 935 |
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LR 522(02) |
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An Act To Exempt
from Taxation Certain Out-of-state Pensions |
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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 2017-18 |
FY 2018-19 |
Projections FY 2019-20 |
Projections FY 2020-21 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$403,000 |
$380,000 |
$380,000 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$11,000 |
$0 |
$0 |
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| Revenue |
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General Fund |
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$0 |
($392,000) |
($380,000) |
($380,000) |
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Other Special Revenue Funds |
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$0 |
($8,000) |
($20,000) |
($20,000) |
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| Fiscal Detail
and Notes |
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The bill provides
an income tax exemption for certain out-of-state pensions and would result in
a loss of General Fund revenue of $392,000 in fiscal year 2018-19 and a loss
of Local Government Fund revenue of $8,000 in fiscal year 2018-19. The bill includes a General Fund
appropriation of $11,000 in fiscal year 2018-19 to the Department of
Administrative and Financial Services to make programming changes to the
income tax system. |
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