An Act To Offer Financial Institutions an Option for Payment of the Maine Franchise Tax
Maine Legislature, Session 122, LD 1761
Senate Amendment SA_A_S593 (Senate)

SENATE AMENDMENT "A" to S.P. 678, L.D. 1761, Bill, "An Act 
To Offer Financial Institutions an Option for Payment of the 
Maine Franchise Tax" 
Amend the bill in section 1 in §5206 in the 2nd indented 
paragraph in the first line (page 1, line 33 in L.D.) by striking 
out 
the 
following: 
"~" and 
inserting in its place 
the 
following: 
'Subject 
to 
the 
limitations 
established 
in 
this 
section, each' 
Further amend the bill in section 1 in §5206 by inserting 
after the 2nd indented paragraph a new indented paragraph to read: 
'A financial institution that elects to calculate and pay 
tax under this section using the method established in subsection 
must demonstrate to the Bureau of Revenue Services that, in the 
year following its election under subsection 2, every employee of 
that financial institution earns a wage that is no less than the 
livable wage, as determined by the Department of Labor by rule. 
A financial institution that is unable to meet this requirement 
is prohibited in subsequent years from electing to calculate and 
pay its tax under this section using the method established in 
subsection 
2. 
Rules 
adopted pursuant to this paragraph are 
routine technical rules as defined in Title 5, 
chapter 
375, 
subchapter 2-A.' 
Further amend the bill by inserting after section 5 
the 
following: 
. Sec. 
6. 
Appropriations 
and 
allocations. 
appropriations and allocations are made. 
Page l-LR2956(6) 
The 
following 
SENATE AMENDMENT 
._~~c; 
J';: .,.,' 
",,,-, 
C'h "'-!.. 
~. 
SENATE AMENDMENT .. A 
.. to S.P. 678, L.D. 1761 
LABOR, DEPAR7MEHT OF 
Employment Security Services 
NEW 
Initiative: 
Provides 
funds 
to the Division of 
Labor Market 
Information Services to annually calculate the livable wage for 
various household sizes. 
Of the $8,000 appropriation in fiscal 
year 2006-07, $3,000 is for the one-time costs associated with 
programming and other set-up expenses. 
The ongoing appropriation 
of $5,000 per year is for the costs associated with annual data 
collection and analysis. 
GENERAL FtJBD 
All Other 
GENERAL FUND TOTAL 
SUMMARY 
2005-06 
$0 
$0 
2006-07 
$8,000 
$8,000' 
This amendment requires that any financial institution that 
elects to be taxed under the Maine Revised Statutes, Title 36, 
section 5206, subsection 2 demonstrate to the Bureau of Revenue 
Services that, in the year following its election to be taxed 
under 
the alternative tax, 
every employee of that financial 
institution earns a wage that is no less than the livable wage, 
as determined by the Department of Labor. 
It also adds 
an 
appropriations and allocations section to the bill. 
FISCAL NOTE REQUIRED 
(See attached) 
SPCNSORED BY, .cE? -;-~ 
(Senator STRIMLING) 
COUNTY: 
Cumberland 
SENATE AMENDMENT 
Approved: 04/11106 ~ae 
LD 1761 
LR2956(06) 
An Act To Offer Financial Institutions an Option for Payment of the Maine Franchise Tax 
Net Cost (Savings) 
General Fund 
Appropriations! Allocations 
General Fund 
Fiscal Detail and Notes 
Fiscal Note for Senate Amendment ,~ " 
Sponsor: Senator Strimling 
Fiscal Note Required: Yes 
Fiscal Note 
2005-06 
2006-07 
$0 
$8,000 
$0 
$8,000 
Projections 
2007-08 
$5,000 
$5,000 
Projections 
2008-09 
$5,000 
$5,000 
This amendment will increase the General Fund cost of the bill by $8,000 in fiscal year 2006-07. As amended, this 
bill includes a General Fund appropriation of $8,000 in fiscal year 2006-07 for the Employment Security Services 
program within the Department of Labor for the costs associated with annually calculating the liveable wage for 
various household sizes. Of this amount, $3,000 is for the one-time costs for programming and other set up expenses. 
The Employment Security Services program will require General Fund appropriations of $5,000 per year beginning in 
fiscal year 2006-07 for the ongoing costs associated with annual data collection and analysis. 
LR2956(6) - Fiscal Note - Page 1 of 1