| | | equal to the amount needed to meet the requirements of this | | chapter for that year as estimated by the Revenue Forecasting | | Committee established in Title 5, section 1710-E in its report | | dated December 1, 2004, as adjusted by the assessor to reflect | | any statutory changes to this chapter enacted after the date of | | that report. The assessor must report any required adjustment to | | the State Controller no later than 15 days prior to the end of | | the fiscal year. |
|
| | | Beginning with fiscal year 2009-10 and ending with the fiscal | | year subsequent to the fiscal year for which the State first | | increases funding to at least 55% of the cost of essential | | programs and services as described in Title 20-A, section 15671, | | the State Controller shall ensure that, in addition to the | | transfer required by section 685-A, the amount transferred to the | | so-called circuit breaker reserve from undedicated revenue within | | the individual income tax category is equal to the estimated | | amount needed to meet the requirements of this chapter for that | | year as determined by the Revenue Forecasting Committee | | established in Title 5, section 1710-E and reported to the State | | Controller no later than June 15th of the respective fiscal year.__ | | For purposes of this estimate, the Revenue Forecasting Committee | | shall assume that funding for the essential programs and services | | as described in Title 20-A, section 15671 was never enacted.__The | | estimate must take into account any statutory changes to this | | chapter enacted after the Revenue Forecasting Committee's | | December 1, 2004 report. |
|
| | | Any amounts remaining in the so-called circuit breaker reserve | | account at the end of the fiscal year must be carried forward to | | the next fiscal year. |
|
| | | Sec. F-3. 36 MRSA §6207, sub-§§1 and 2, as amended by PL 1997, c. 557, | | Pt. A, §3 and affected by Pt. G, §1, are further amended to read: |
|
| | | 1. Benefit calculation. For claimants representing a | | nonelderly household, the benefit is calculated as follows: |
|
| | | A-1. Fifty percent of that portion of the benefit base that | | exceeds 4% but does not exceed 8% of income plus 100% of | | that portion of the benefit base that exceeds 8% of income | | to a maximum payment of $1,000. |
|
| | | The State Tax Assessor shall increase the maximum payment amount | | provided in paragraph A-1 no later than August 15, 2007, and | | annually thereafter, by an amount determined by the sum of any | | funds in the so-called circuit breaker reserve under section | | 6203-A as of July 1st of the fiscal year.__In no fiscal year may | | the maximum payment amount arising from the adjustment made by |
|
|
