LD 989 LR 1241(02)
An Act To Improve Maine's Tax Laws
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Taxation
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 $0 $0 $1,625 $1,675
General Fund $0 $0 $1,625 $1,675
Fiscal Detail and Notes
The bill provides a property tax exemption for real estate and personal property owned by central labor councils. The Department of Administrative and Financial Services will require a General Fund appropriation of $1,625 in fiscal year 2021-22 and $1,675 in fiscal year 2022-23 to reimburse municipalities 50% of the amount of the property tax reduction.