| | | Constitutional amendment. Resolved: Two thirds of each branch of the | | Legislature concurring, that the following amendment to the | | Constitution of Maine be proposed: |
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| | | Constitution, Art. IX, §8, sub-§6 is enacted to read: |
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| | | 6.__Property taxes for education funding.__The Legislature | | may establish a different tax rate for secondary residential | | property, as defined by the Legislature, for the portion of | | the property tax that is assessed for the purpose of funding | | public education from kindergarten to grade 12 as defined by | | the Legislature.__The Legislature shall establish the | | procedure to determine the tax rate for secondary residential | | property established under this subsection. |
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| | | Constitution, Art. IX, §§24 and 25 are enacted to read: |
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| | | Section 24.__Education Funding Stabilization Fund.__The | | Legislature shall create and maintain the Education Funding | | Stabilization Fund for the purpose of ensuring the stability | | of adequate revenues to support the State's contribution to | | kindergarten to grade 12 public education.__The fund must be | | annually capitalized with at least 25% of the excess of total | | General Fund revenues received over accepted estimates in any | | fiscal year as defined by the Legislature.__Money from the | | fund may be allocated only for the purpose of meeting the | | State's share of the cost of funding public education from | | kindergarten to grade 12 and only upon a 2/3 vote of all | | members elected to each House of the Legislature. |
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| | | Section 25.__Dedication of education revenues.__All | | additional revenues collected as a result of changes to the | | sales tax enacted as a result of a decision by the voters at | | referendum on November 4, 2003 requiring the Legislature to | | provide additional funds to meet the State's obligation to | | fund education must be dedicated to support kindergarten to | | grade 12 education unless appropriated for a different purpose | | by an enactment approved by a vote of 2/3 of all the members | | elected to each House of the Legislature. |
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| | | Constitutional referendum procedure; form of question; effective date. Resolved: That | | the municipal officers of this State shall notify the | | inhabitants of their respective cities, towns and plantations | | to meet, in the manner prescribed by law for holding a | | statewide election, at a statewide election, on the Tuesday | | following the first Monday of November following the passage | | of this resolution, to vote upon the ratification of the |
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