An Act to Amend the Mame Exclus10n Amount m the Estate Tax
Maine Legislature, Session 131, LD 1338
Committee Amendment CA_A_H585 (House)

COMMITIEE AMENDMENT ,/t" to HP 852, L D 1338, "An Act to Amend the 
Mame Exclus10n Amount m the Estate Tax" 
Amend the bill m section 1 m subsect~on 5 m paragraph D m the first lme (page 1, lme 
m L D) by stnkmg out the' followmg "$2,000,000" and msertmg the followmg 
'$3,000,000' 
Amend the bill m section 2 m -§4119 m the 8th hne (page 1, hne 24 m L D ) by msertmg 
after the followmg "4120" the followmg ', subsect10n 2' 
Amend the bill m section 3 m §4120 m subsection 2 m the 3rd lme (page 3, hne 9 m 
L D ) by strikmg out the followmg "$3,800,000" and msertmg the followmg '$4,000,000' 
Amend the bill by msertmg after section 4 the followmg 
'Sec. 5. Appropriations and allocations. The followmg appropnations and 
allocations are made 
ADMINISTRATIVE AND FINANCIAL SERVICES, DEPARTMENT OF 
Revenue Services, Bureau of 0002 
Imtlative Provides ongomg fundmg for one Tax Section Manager position, 2 Semor Tax 
Exam.mer posit10ns and 3 Tax Exam.mer II positions effective October 1, 2023 
GENERAL FUND 
POSITIONS - LEGISLATIVE COUNT 
Personal Services 
All Other 
GENERAL FUND TOTAL 
ADMINISTRATIVE AND FINANCIAL 
SERVICES, DEPARTMENT OF 
DEPARTMENT TOTALS 
2023-24 
000 
$541,773 
$34,908 
$576,681 
2023-24 
COMMITTEE AMENDMENT 
2024-25 
000 
$734,564 
$26,070 
$760,634 
2024-25 
0~ 
l:f 
COMM.J.TIEE AMENDMENf •'-A• to HP 852, L D 1338 
GENERAL FUND 
DEPARTMENT TOTAL-ALL FUNDS 
HOUSING AUTHORITY, MAINE STATE 
Housing Authority - State 0442 
$576,681 
$760,634 
$576,681 
$760,634 
Imtiative Allocates funds from revenue generated as a result of reducmg the exclusion 
amount below which the Mame estate tax does not apply to be used to support affordable 
I 
housmg mcludmg affordable housmg for veterans 
I 
OTHER SPECIAL REVENUE FUNDS 
A\l Other 
OTIIBR SPECIAL REVENUE FUNDS TOT AL 
I 
I 
HOpSING AUTHORITY, MAINE STATE 
DEPARTMENT TOTALS 
I 
OiER SPECIAL REVENUE FUNDS 
DEPARTMENT TOTAL-ALL FUNDS 
I 
I 
SECCTION TOTALS 
I 
GENERAL FUND 
I 
OffHER SPECIAL REVENUE FUNDS 
I 
SE<rTION TOTAL - ALL FUNDS 
I 
I 
2023-24 
$0 
2024-25 
$13,500,000 
$0 
$13,500,000 
2023-24 
$0 
$0 
2023-24 
$576,681 
$0 
$576,681 
2024-25 
$13,500,000 
$13,500,000 
2024-25 
$760,634 
$13,500,000 
I 
$14,260,634 
I !Amend the bill by relettermg or renumbermg any nonconsecutive Part letter or sect10n 
I 
nlber to read consecutively 
SUMMARY 
ffhis amendment changes the estate tax exclusion amount provided m the bill from 
$2,900,000 to $3,000,000 and the additional exclusion amount created for family farms and 
aqu,culture, fishmg and wood harvestmg busmesses provided m the bill from $3,800,000 
to $~,000,000 The amendment adds an appropriations and allocations sect10n 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved 06/06/23 :;tvac.. 
LD 1338 
LR 1962(02) 
An Act to Amend the Maine Exclusion Amount in the Estate Tax 
Fiscal Note for Bill as Amended by Committee Amendment A f {-{r 5· g5) 
Committee: Taxation 
l j 
Net Cost (Savings) 
General Fund 
Appropriations/ Allocations 
- ) General Fund 
Other Special Revenue Funds 
Revenue 
General Fund 
Transfers 
General Fund 
Other Special Revenue Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2023-24 
$576.,681 
$576,681 
$0 
$0 
FY2024-25 
$760,634 
$760,634 
$13,500,000 
$13,500,000 
ProJections 
FY2025-26 
$787,078 
$787,078 
$18,405,000 
$18,405,000 
Pr0Ject1ons 
FY2026-27 
$814,475 
$814,475 
$18,957,150 
$18,957,150 
$0 
($13,500,000) 
($18,405,000) 
($18,957,150) 
$0 
$13,500,000 
$18,405,000 
$18,957,150 
This bill reduces the Mame estate tax exclusion amount from $5,600,000 to $3,000,000 for decedents dying on or 
after January 1, 2024 and creates an addit10nal exclusion from the estate tax of $4,000,000 for farmland and 
depreciable machinery and eqmpment used for commerc1al agriculture, aquaculture, fishmg and wood harvestmg that 
ts part of an estate of a decedent dymg on or after January 1, 2024 These changes will mcrease General Fund revenue 
from the estate tax by $13,500,000 m fiscal year 2024-25. The btll directs this revenue to be credited to the Mame 
State Housing Authonty solely to support affordable housmg, mcludmg housmg for veterans and mcludes an Other 
Special Revenue Funds allocation of $13,500,000 m fiscal year 2024-25 to authorize expenditure of the revenue 
Thts bill also mcludes ongomg General Fund appropnattons to the Department of Admm1strat1ve and Fmanc1al 
Services, Bureau of Revenue Services of $576,681 m fiscal year 2023-24 and $760,634 m fiscal year 2024-25 for one 
\ Tax Section Manager posttlon, 2 Semor Tax Exammer positions and 3 Tax Exammer II pos1t1ons, effective October 1, 
/ 
2023, to process and audit additional estate tax returns, the add1t1onal exclusion amount and potential related tax 
recapture The bureau estimates the number of estate tax returns will increase by approximately 250%, from 70 to 180 
per year 
LRl 962(02) - Fiscal Note - Page 1 of 1