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129th MAINE LEGISLATURE |
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LD 50 |
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LR 632(01) |
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An Act To
Implement the Recommendations of the Government Oversight Committee To
Improve the Development of a Long-range Strategic Plan for Economic
Improvement in the State |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Rep. Mastraccio of Sanford |
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Committee: Innovation, Development, Economic
Advancement and Business |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2019-20 |
FY 2020-21 |
Projections FY 2021-22 |
Projections FY 2022-23 |
| Net Cost
(Savings) |
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General Fund |
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$245,000 |
$245,000 |
$100,000 |
$125,000 |
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| Appropriations/Allocations |
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General Fund |
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$245,000 |
$245,000 |
$100,000 |
$125,000 |
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| Fiscal Detail
and Notes |
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The Maine
Economic Growth Council within the Department of Economic and Community
Development will require General Fund appropriations of $245,000 in fiscal
year 2019-20 and $245,000 in fiscal year 2020-21 to develop and maintain a
long-range strategic plan for the State's economy by December 31, 2020. The future cost to the Council to monitor
progress toward achievement of the strategic plan goals and to update the
strategic plan by December 31, 2022 is estimated to be $100,000 in fiscal
year 2021-22 and $125,000 in fiscal year 2022-23. |
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This preliminary
fiscal impact statement assumes that the annual General Fund appropriation of
$55,395 currently received by the Maine Economic Growth Council will be
available to apply towards the cost of implementing the requirements of this
legislation. If the funding is not
available for this purpose, additional General Fund appropriations may be
required. |
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