Sec. 1. 30-A MRSA §924, sub-§2, as amended by PL 2001, c. 349, §6, is further amended to read:

2. Reduce tax levy. After restoring the contingent account under subsection 1, the county commissioners shall use any unencumbered surplus funds to reduce the tax levy in the following fiscal year as provided in this subsection. The county commissioners shall use any remaining unencumbered surplus funds in excess of 15% for the fiscal year beginning in 2002, 18% for the fiscal year beginning in 2003 and 20% for the fiscal year beginning in 2004 and each fiscal year thereafter of the amount to be raised by taxation in the following fiscal year to reduce the tax levy in that year. The county commissioners may not commit taxes to be raised in any fiscal year until the county commissioners have complied with this subsection.

SUMMARY

This bill limits the amount of surplus funds a county may retain for purposes other than reducing the amount of tax levy in a fiscal year to 15% of the annual operating budget.