Public Laws

Chapter 1

H.P. 186 - L.D. 215

PART P

Sec. P-1. 5 MRSA §1664, sub-§1, ¶D,  as enacted by PL 2005, c. 601, §1, is repealed.

Sec. P-2. 5 MRSA §1666, last ¶,  as amended by PL 2005, c. 601, §4, is further amended to read:

A budget document transmitted by the Governor or Governor-elect must include a part that asks the Legislature whether it wishes to continue funding each individual tax expenditure , as defined in section 1664, provided in the statutes. For purposes of this paragraph, "tax expenditures" means those state tax revenue losses attributable to provisions of Maine tax laws that allow a special exclusion, exemption or deduction or provide a special credit, a preferential rate of tax or a deferral of tax liability. The part must include for each tax expenditure a statutory section reference, a brief description of each tax expenditure and the loss of revenue estimated to be incurred by funding source and fiscal year. This paragraph applies with respect to the preparation of the budget document for the 2008-2009 biennium and thereafter.