128th MAINE LEGISLATURE
		LD 1338		LR 2069(02)
	An Act To Create and Sustain Jobs through Development of Cooperatives and Employee-owned Businesses
	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		$0	$32,340	$575,432	$353,832
Appropriations/Allocations
	General Fund		$0	$0	$267,157	$92,107
Revenue
	General Fund		$0	($32,340)	($308,275)	($261,725)
	Other Special Revenue Funds		$0	($660)	($16,225)	($13,775)
Fiscal Detail and Notes
	This bill would reduce General Fund revenue by $32,340 in fiscal year 2018-19 and reduce Local Government Fund revenue by $660 in fiscal year 2018-19.  The Department of Administrative and Financial Services will require a General Fund appropriation of $267,157 in fiscal year 2019-20 for one Management Analyst II position and programming costs to process, review and analyze individual income tax returns that include a deduction by the business owner for gains recognized in transferring the business to an employee stock ownership plan, eligible worker-owned cooperative, consumer cooperative or affordable housing cooperative.