PART N

Sec. N-1. 20-A MRSA §15653, sub-§4, as amended by PL 2003, c. 20, Pt. C, §3, is further amended to read:

4. Statewide local share. For fiscal year 2003-04 2004-05, the statewide local share amount of the operating costs allocation is based on the sum of the amounts determined by multiplying for each unit 6.74 6.31 mills times the unit's property fiscal capacity. In subsequent years the mill rate is 7.57 mills, except that the Legislature shall determine if an increase is needed to achieve the targeted per pupil guarantee under this section.

Sec. N-2. 20-A MRSA §15905, sub-§1, ķA, as amended by PL 2001, c. 439, Pt. OOOO, §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 15603, subsection 8, paragraph A, to exceed the maximum limits specified in Table 1 in subsequent fiscal years.

Table 1

Fiscal year 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