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130th MAINE LEGISLATURE |
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LD 241 |
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LR 1198(02) |
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An Act To Support
the Trades through a Tax Credit for Apprenticeship Programs |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Taxation |
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Fiscal Note Required: Yes |
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Fiscal Note |
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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 |
$2,439,250 |
$2,375,000 |
$2,375,000 |
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Appropriations/Allocations |
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General Fund |
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$0 |
$33,000 |
$0 |
$0 |
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Revenue |
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General Fund |
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$0 |
($2,406,250) |
($2,375,000) |
($2,375,000) |
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Other Special Revenue Funds |
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$0 |
($93,750) |
($125,000) |
($125,000) |
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Fiscal Detail
and Notes |
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This bill
provides an income tax credit to employers who employ certain apprentices and
will result in a reduction in General Fund revenue of $2,406,250 in fiscal
year 2022-23 and a reduction in Local Government Fund revenue of $93,750 in
fiscal year 2022-23. The bill includes
a one-time General Fund appropriation of $33,000 in fiscal year 2022-23 to
the Department of Administrative and Financial Services for computer
programming to add lines to the individual, fiduciary and corporate income
tax returns. |
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