CHAPTER 81

S.P. 182 - L.D. 542

Resolve, To Reduce the State Valuation for the Town of

Hermon

Sec. 1. State valuation for Town of Hermon. Resolved: That, notwithstanding the filing deadline set forth in the Maine Revised Statutes, Title 36, section 208-A, the Town of Hermon may request a reduction in its state valuation under Title 36, section 208-A for the year 2003 based on the reduction in value of the H. C. Price Company in the town.

Sec. 2. General purpose aid for local schools; Hermon. Resolved: That, notwithstanding the Maine Revised Statutes, Title 36, section 208-A, if the State Tax Assessor notifies the Commissioner of Education of an adjustment to the state valuation of the Town of Hermon pursuant to section 1, the Commissioner of Education shall adjust the payments to the Town of Hermon for general purpose aid for local schools as provided in this section. If any savings occurs in the fiscal year 2003-04 General Purpose Aid for Local Schools account, the appropriate amount of those savings must be applied to increase the Hermon school administrative unit's general purpose aid for local schools for 2003-04. If insufficient savings occur in the fiscal year 2003-04 General Purpose Aid for Local Schools account, the appropriate increase in the Hermon school administrative unit's general purpose aid for local schools for 2003-04 must be applied as an audit adjustment in 2004-05 general purpose aid for local schools.