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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 full-value | education mill rate must decline over the period from fiscal | year 2005-06 to fiscal year 2009-10 and may not exceed 9.0 | mills in fiscal year 2005-06 and8.0 | in fiscal year 2009-10 | | thereafter. The full-value education mill rate must be | | applied according to section 15688, subsection 3, paragraph A | | to determine a municipality's local cost share expectation. | Full-value education mill rates must be derived according to | the following schedule. |
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| | (1) For the 2005 property tax year, the full-value | education mill rate is the amount necessary to result | in a 47.4% local share in fiscal year 2005-06. |
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| | (2) For the 2006 property tax year, the full-value | education mill rate is the amount necessary to result | in a 47.4% local share in fiscal year 2006-07. |
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| | (3) For the 2007 property tax year, the full-value | education mill rate is the amount necessary to result | in a 47.0% local share in fiscal year 2007-08. |
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| | (4) For the 2008 property tax year, the full-value | education mill rate is the amount necessary to result | in a 46.0% local share in fiscal year 2008-09. |
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| | (5) For the 2009 property tax year, the full-value | education mill rate is the amount necessary to result | in a 45.0% local share in fiscal year 2009-10. |
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| | | Sec. 7. 20-A MRSA §15672, sub-§9, as enacted by PL 2003, c. 504, Pt. | | A, §6, is repealed. |
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| | | Sec. 8. 20-A MRSA §15680, sub-§4, as enacted by PL 2003, c. 504, Pt. | | A, §6, is amended to read: |
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| | | 4. Review; approval. Beginning in fiscal year 2006-07, and at | | least every 2 years thereafter, the commissioner, using | | information provided by a statewide education policy research | | institute, shall review the essential programs and services | | components under this Act and shall submit, in consultation with | | the review panel established pursuant to section 15671, | | subsection 1-A, any recommended changes to the state board for | | approval. |
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