129th MAINE LEGISLATURE
		LD 1645		LR 1760(07)
	An Act To Create Affordable Workforce and Senior Housing and Preserve Affordable Rural Housing
	Fiscal Note for Bill as Engrossed with: S "A" (S-374)
	Committee: Taxation
Fiscal Note
			FY 2019-20	FY 2020-21	Projections  FY 2021-22	Projections  FY 2022-23
Net Cost (Savings)
	General Fund		$0	$0	$8,705,638	$9,500,000
Appropriations/Allocations
	General Fund		$0	$0	$60,638	$0
Revenue
	General Fund		$0	$0	($8,645,000)	($9,500,000)
	Other Special Revenue Funds		$0	$0	($455,000)	($500,000)
Fiscal Detail and Notes
	The bill creates a state affordable housing tax credit administered by the Maine State Housing authority and will reduce General Fund revenue by an estimated $8,645,000 in fiscal year 2021-22 and reduce Local Government Fund revenue by $455,000 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.