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126th MAINE LEGISLATURE |
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LD 7 |
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LR 369(02) |
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An Act To Equalize
the Premiums Imposed on the Sale of Motor Vehicle Oil |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Environment and Natural Resources |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2013-14 |
FY 2014-15 |
Projections FY 2015-16 |
Projections FY 2016-17 |
| Revenue |
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Other Special Revenue Funds |
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($765,000) |
($1,060,800) |
($1,103,232) |
($1,147,361) |
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| Fiscal Detail
and Notes |
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The bill reduces
the premium imposed by the State on gasoline engine oil sold or distributed
in containers larger than 5 gallons from $1.10 per gallon to $.35 per
gallon. This reduction in premium
decreases Other Special Revenue Funds revenue collected by the Bureau of
Revenue Services and deposited into the Waste Motor Oil Revenue Fund. This could jeopardize the timely repayment
of revenue bonds issued by the Finance Authority of Maine that are repaid
with these premium payments. |
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