A. The level of the state share of funding attributable to the cost of the components of essential programs and services must be at least 50% of eligible state and local General Fund education costs statewide, no later than fiscal year 2007-08 2006-07; and

B. By fiscal year 2009-10 2008-09 the state share of the total cost of funding public education from kindergarten to grade 12, as described by essential programs and services, must be 55%. Beginning in fiscal year 2005-06 and in each fiscal year until fiscal year 2009-10 2008-09, the state share of essential programs and services described costs must increase toward the 55% level required in fiscal year 2009-10 2008-09.

Beginning in fiscal year 2005-06 and in each fiscal year thereafter, the commissioner shall use the funding level determined in accordance with this section as the basis for a recommended funding level for the state share of the cost of the components of essential programs and services.

Sec. D-34. 20-A MRSA §15671, sub-§6, as enacted by PL 2001, c. 660, §1, is amended to read:

6. Targeted funds. Funds for technology, assessment and the costs of additional investments in educating children in kindergarten to grade 2 must be provided as targeted grants. School administrative units shall submit a plan for the use of these funds and shall receive funding based on approval of the plan by the commissioner. Any plan must be pursuant to chapter 203, subchapter 2.

Sec. D-35. 20-A MRSA §15671, sub-§7, as amended by PL 2003, c. 712, §10, is further amended to read:

7. Transition; annual targets. To achieve the system of school funding based on essential programs and services required by this section, the following annual targets are established.

A. The annual targets for the essential programs and services transition percentage, excluding program cost