126th MAINE LEGISLATURE
		LD 1505		LR 2119(02)
	An Act Regarding Insured Value Factor Payments for Public Tuition Students Attending a Private School
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Education and Cultural Affairs
	Fiscal Note Required: Yes
Fiscal Note
Future biennium cost increase - General Fund
Fiscal Detail and Notes
	Increasing the percentage of the maximum allowed tuition rate that private schools that are approved for receipt of public funds may charge for the Insured Value Factor (IVF) beginning in the 2014-2015 school year will increase costs to those local school administrative units that send students to these private schools in the same school year.  This provision will increase the State's share of the cost of funding K-12 education beginning in fiscal year 2016-17, which is when the data reflecting the actual cost to school administrative units will be included in the calculation of essential programs and services.