129th MAINE LEGISLATURE
		LD 1645		LR 1760(02)
	An Act To Create Affordable Workforce and Senior Housing and Preserve Affordable Rural Housing
	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	$17,350,638	$19,000,000
Appropriations/Allocations
	General Fund		$0	$0	$60,638	$0
Revenue
	General Fund		$0	$0	($17,290,000)	($19,000,000)
	Other Special Revenue Funds		$0	$0	($910,000)	($1,000,000)
Fiscal Detail and Notes
	The bill creates a state affordable housing tax credit and would result in a reduction in General Fund revenue of $17,290,000 in fiscal year 2021-22 and a reduction in Local Government Fund revenue of $910,000 in fiscal year 2021-22.  The Department of Administrative and Financial Services will require a General Fund appropriation of $60,638 in fiscal year 2021-22 for programming costs.
	Additional costs to the Maine State Housing Authority to implement the requirements of this legislation can be absorbed within existing budgeted resources.