Part C establishes the mill rate factor and statewide local and state share contributions to the total cost of funding public education from kindergarten to grade 12 for fiscal year 2005-06. It establishes the debt service allocation, miscellaneous adjustments and recommended appropriation level for fiscal year 2005-06.

PART D

Part D does the following.

It establishes a cap on total education costs. It also requires the State to increase its share of school funding by paying 50% of the total cost of essential programs and services in fiscal year 2006-07 and 55% in fiscal year 2008-09. As a result of this increased state aid to education, 90¢ of every dollar of the additional state aid are available for property tax reduction. The funds made available for property tax reduction must reduce property taxes. This property tax reduction may be overridden only by a majority vote of affected voters.

It also corrects a numbering problem created when Public Law 2003, chapter 504, Part A, section 6 and Initiated Bill 2003, chapter 2 both enacted substantively different provisions with the same section numbers.

PART E

Part E does the following.

It delays to July 1, 2007 the increase from 5.1% to 5.2% in municipal revenue sharing.

It requires the calculation and transfer of statewide savings in the General Fund, Highway Fund and Other Special Revenue funds from extending the amortization schedule of the unfunded liability of the Maine State Retirement System for fiscal years 2005-06 and 2006-07 that are identified in Part B, section 1.

It authorizes transfers of positions by financial order between accounts and between departments and authorizes the transfer of any available balances of appropriations and allocations between line categories, accounts and departments in fiscal year 2005-06 and fiscal year 2006-07 and balances by financial order between accounts and between departments.

PART F