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130th MAINE LEGISLATURE |
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LD 198 |
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LR 717(01) |
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An Act To Improve
Maine's Tax Laws by Providing a Property Tax Exemption for Central Labor
Councils |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Chipman of Cumberland |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$0 |
$0 |
$1,300 |
$1,350 |
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| Appropriations/Allocations |
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General Fund |
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$0 |
$0 |
$1,300 |
$1,350 |
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| Fiscal Detail
and Notes |
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This 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 $1,300 in fiscal year
2023-24 and $1,350 in fiscal year 2024-25 to reimburse municipalities 50% of
the amount of the property tax reduction. |
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