129th MAINE LEGISLATURE
		LD 193		LR 328(01)
	An Act To Fully Fund and Restore State-Municipal Revenue Sharing
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Harnett of Gardiner
	Committee: Taxation
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
		FY 2018-19	FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Net Cost (Savings)
	General Fund	$49,941,123	$0	$0	$0	$0
Revenue
	General Fund	($49,941,123)	$0	$0	$0	$0
	Other Special Revenue Funds	$49,941,123	$0	$0	$0	$0
Fiscal Detail and Notes
	The bill increases the revenue sharing rate from 2% to 5% in fiscal year 2018-19 retroactive to January 1, 2019.  It would result in a reduction in General Fund revenue of $49,941,123 in fiscal year 2018-19 and a corresponding increase in Local Government Fund revenue of $49,941,123 in fiscal year 2018-19.  This analysis is based on the December 2018 revenue forecast. There would be no fiscal impact in the following years since current law already has revenue sharing returning to 5%.