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An Act To Exclude Certain State-funded Costs from the State Share of the Total Cost of Funding Public Education
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §15671, sub-§7, ¶C, as amended by PL 2011, c. 655, Pt. C, §4, is further amended to read:
 
C. Beginning in fiscal year 2011-122013-14, the annual targetstarget for the state share percentage of the total cost of funding public education from kindergarten to grade 12 including the cost of the components of essential programs and services plus the state contributions to teacher retirement, retired teachers' health insurance and retired teachers' life insurance are as followsis 55%.
 
(1) For fiscal year 2011-12, the target is 49.47%.
 
(2) For fiscal year 2012-13, the target is 50%.
 
(3) For fiscal year 2013-14 and succeeding years, the target is 55%.
 
SUMMARY
This bill provides that, beginning in fiscal year 2013-14, the state contributions to teacher retirement, retired teachers' health insurance and retired teachers' life insurance may not be included in the calculation of the state share percentage of the total cost of funding public education from kindergarten to grade 12 as required by the Essential Programs and Services Funding Act.