Sec. 8. 20-A MRSA §15671-A is enacted to read:

§15671-A.__Property tax contribution to public education

1.__Definitions.__As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

A.__"Funding public education from kindergarten to grade 12" means providing the cost of funding essential programs and services as described in this chapter plus the total allocations for program cost, debt service costs and adjustments.

B.__"Local cost share expectation" means the maximum amount of money for funding public education from kindergarten to grade 12 that may be derived from property tax.

2.__Local cost share expectation.__The local cost share expectation is established as follows.

A.__This paragraph applies to the local cost share expectation.__Notwithstanding any other provision of law, with respect to the assessment of any property taxes for property tax years beginning on or after April 1, 2005, this subsection establishes the local cost share expectation that may be assessed on the value of property for the purpose of funding public education from kindergarten to grade 12.__The commissioner shall annually by February 1st notify each school administrative unit of its local cost share expectation.__Each superintendent shall report to the municipal officers whenever a school administrative unit is notified of the local cost share expectation or a change made in the local cost share expectation resulting from an adjustment.

B.__This paragraph applies to the calculation of the full-value education mill rate.__For property tax years beginning on or after April 1, 2005, the commissioner shall calculate the full- value education mill rate that is required to raise the total of the local cost share expectation.__The full-value education mill rate is calculated by dividing the applicable tax year percentage of the projected cost of funding public education from kindergarten to grade 12 by the certified total state valuation for the year prior to the most recently certified total state valuation for all municipalities.__The