HP0073
LD 91
Session - 126th Maine Legislature
 
LR 983
Item 1
Bill Tracking, Additional Documents Chamber Status

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.
Table 1
Major Capital Integrated, Consolidated Secondary and Postsecondary Project
Fiscal year Maximum Debt Service Limit Maximum Debt Service Limit
1990 $ 48,000,000
1991 $ 57,000,000
1992 $ 65,000,000
1993 $ 67,000,000
1994 $ 67,000,000
1995 $ 67,000,000
1996 $ 67,000,000
1997 $ 67,000,000
1998 $ 67,000,000
1999 $ 69,000,000
2000 $ 72,000,000
2001 $ 74,000,000
2002 $ 74,000,000
2003 $ 80,000,000
2004 $ 80,000,000
2005 $ 84,000,000
2006 $ 90,000,000
2007 $ 96,000,000
2008 $100,000,000
2009 $104,000,000
2010 $108,000,000
2011 $126,000,000
2012 $116,000,000
2013 $116,000,000
2014 $116,000,000 $126,000,000 $10,000,000
2015 $116,000,000 $126,000,000 $10,000,000

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.


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