129th MAINE LEGISLATURE
		LD 963		LR 2174(03)
	An Act To Exempt Overtime Pay from Individual Income Tax
	Fiscal Note for Senate Amendment " " to Committee Amendment "A"
	Sponsor: Pres. Jackson of Aroostook
	Fiscal Note Required: Yes
Fiscal Note
			FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Net Cost (Savings)
	General Fund		($10,754,000)	($36,584,500)	($39,054,500)	($41,496,000)
Revenue
	General Fund		$10,754,000	$36,584,500	$39,054,500	$41,496,000
	Other Special Revenue Funds		($566,000)	($1,925,500)	($2,055,500)	($2,184,000)
Fiscal Detail and Notes
	The amendment creates a surcharge of 2.15% on income above $1,450,000 and would increase General Fund revenue by $10,754,000 in fiscal year 2019-20 and $36,584,500 in fiscal year 2020-21.  It would also increase Local Government Fund revenue by $566,000 in fiscal year 2019-20 and $1,925,500 in fiscal year 2020-21.