| (2) Approved lease costs. |
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| | Sec. 2. 20-A MRSA §15654, sub-§1, as enacted by PL 1995, c. 368, Pt. | Z, §1 and affected by §2, is repealed. |
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| | Sec. 3. 20-A MRSA §15654, sub-§1-A is enacted to read: |
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| | 1-A.__Unit's local share percentage.__For each school | administrative unit, the commissioner shall annually determine | the unit's local share percentage of the per pupil guarantee.__ | Except as described in subsection 2, the local share percentage | of the per pupil guarantee is equal to a statewide adjustment | factor established annually by the commissioner. |
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| | Sec. 4. 20-A MRSA §15657, sub-§1, as enacted by PL 1995, c. 368, Pt. | Z, §1 and affected by §2, is repealed and the following enacted | in its place: |
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| | 1.__Fiscal capacity. The local per pupil property fiscal | capacity divided by the statewide per pupil property fiscal | capacity as computed by the commissioner is multiplied by: |
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| A.__Until July 1, 2002,__a property weight of 0.85; |
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| B.__From July 1, 2002 to June 30, 2003, a property weight of | 0.90; |
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| C.__From July 1, 2003 to June 30, 2004, a property weight of | 0.95; and |
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| D.__Beginning July 1, 2004, a property weight of 1.0. |
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| | Sec. 5. 20-A MRSA §15657, sub-§2, as amended by PL 1999, c. 401, Pt. | GG, §9, is repealed and the following enacted in its place: |
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| | 2.__Local median household income.__The local median household | income is divided by the statewide average median household | income. |
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| A.__Until July 1, 2002, the final result is multiplied by an | income weight of 0.15. |
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| B.__From July 1, 2002 until June 30, 2003, the final result | is multiplied by an income weight of 0.10. |
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| C.__From July 1, 2003 until June 30, 2004, the final result | is multiplied by an income weight of 0.05. |
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| The department shall use local median household income data as |
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| estimated at the fiscal year 1997-98 level until final Federal | Decennial Census figures are established for the year 2000.__The | fiscal year 1997-98 estimated census figures must be adjusted so | that no municipality's census figure exceeds twice the state | average percentage increase from fiscal year 1996-97 to fiscal | year 1997-98. |
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| This subsection is repealed July 1, 2004. |
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| | Sec. 6. 20-A MRSA §15657, sub-§3, as enacted by PL 1995, c. 368, Pt. | Z, §1 and affected by §2, is amended to read: |
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| | 3. Weighted relative property fiscal capacity. The results | of subsection 1 and subsection 2 are added and the sum represents | the weighted relative property fiscal capacity. This subsection | is repealed July 1, 2004. |
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| | Sec. 7. Effective date. Those sections of this Act that repeal the | Maine Revised Statutes, Title 20-A, section 15654, subsection 1 | and enact Title 20-A, section 15654, subsection 1-A take effect | July 1, 2004. |
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| | This bill phases out over a 3-year period the consideration of | local median household income and increases by an equal | percentage the reliance on property values in determining the | local contribution portion of the school funding formula. |
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