PLEASE NOTE: Legislative Information cannot perform research, provide legal advice, or interpret Maine law. For legal assistance, please contact a qualified attorney.
Amend the bill by striking out everything after the enacting clause and inserting the following:
‘Sec. 1. 20-A MRSA §15672, sub-§23, as amended by PL 2005, c. 2, Pt. D, §36 and affected by §§72 and 74 and affected by c. 12, Pt. WW, §18, is repealed and the following enacted in its place:
 
23.  Property fiscal capacity.     "Property fiscal capacity" means:
 
A.  Prior to fiscal year 2014-15, the certified state valuation for the year prior to the most recently certified state valuation;
 
B.  For fiscal year 2014-15, the average of the certified state valuations for the 2 most recent years prior to the most recently certified state valuation; and
 
C. For fiscal year 2015-16 and each subsequent fiscal year, the average of the certified state valuations for the 3 most recent years prior to the most recently certified state valuation.’
 
SUMMARY
This amendment strikes and replaces the bill, which is a concept draft. This amendment stabilizes state funding for education by requiring the property fiscal capacity component of the essential programs and services funding formula to be based on a 2-year average of the property values of the municipalities included in a school administrative unit in fiscal year 2014-15 and to be based on a 3-year average of the property values of the municipalities included in a school administrative unit in fiscal year 2015-16 and each succeeding fiscal year.