Legislative Document No. 741 H.P. 546 House of Representatives, February 11, 2019
An Act To Return Surplus Money to Maine Taxpayers
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered printed.
ROBERT B. HUNT Clerk
Presented by Representative HANLEY of Pittston. Cosponsored by Senator WOODSOME of York and Representatives: HARRINGTON of Sanford, MAREAN of Hollis, MILLETT of Waterford, NADEAU of Winslow, SKOLFIELD of Weld, STETKIS of Canaan.
Printed on recycled paper 1 Be it enacted by the People of the State of Maine as follows:
2 CONCEPT DRAFT
3 SUMMARY 4 This bill is a concept draft pursuant to Joint Rule 208.
5 This bill proposes to distribute the funds in the State treasury by:
6 1. Placing in the General Fund only the amount necessary to cover the outstanding 7 obligations of the State required by law, such as for bond debt and payment of contracts 8 and salaries;
9 2. After the transfer of funds required to meet the legal obligations of the State, 10 distributing 75% of the remaining funds to Maine taxpayers on a pro rata basis, based on 11 tax data for the 2018 tax year; and
12 3. After the transfer and the distributions, transferring the remaining 25% to the 13 Maine Budget Stabilization Fund, also known as the Maine Rainy Day Fund.
Page 1 - 129LR1126(01)-1