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An Act To Raise the School Construction Bond Cap
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §15905, sub-§1, ¶A, as amended by PL 2011, c. 1, Pt. E, §1, is further amended to read:
 
A. The state board may approve projects as long as no project approval will cause debt service costs, as defined in section 15672, subsection 2-A, paragraph A and pursuant to Resolve 2007, chapter 223, section 4, to exceed the maximum limits specified in Table 1 in subsequent fiscal years.
 
SUMMARY
This bill increases the major capital maximum debt service limit for school construction projects for fiscal years 2013-14 and 2014-15 to $126,000,000.