Beginning in fiscal year 2005-06 2007-08, the Legislature shall annually, prior to March 15th, enact legislation to allocate State Controller shall transfer at the beginning of each fiscal year from General Fund undedicated revenue the following amounts calculated based on the amount appropriated for general purpose aid for local schools to the fund during each of the following fiscal years:

A. In fiscal year 2005-06, an amount equivalent to 0.83% of the total amount appropriated for general purpose aid for local schools;

B. In fiscal year 2006-07, an amount equivalent to 0.69% of the total amount appropriated for general purpose aid for local schools;

C. In fiscal year 2007-08, an amount equivalent to 1.5% of the total amount appropriated for general purpose aid for local schools; and

D. In fiscal year 2008-09 and each fiscal year thereafter, an amount equivalent to 2% of the total amount appropriated for general purpose aid for local schools.

Any balance remaining in the fund at the end of any fiscal year does not lapse and must be carried forward for the next fiscal year.

Sec. E-2. PL 2005, c. 12, Pt. D, §4 is repealed.

Sec. E-3. Appropriations and allocations. The following appropriations and allocations are made.

EDUCATION, DEPARTMENT OF

Fund for the Efficient Delivery of Educational Services Z005

Initiative: Deallocates funds for the Fund for the Efficient Delivery of Educational Services in fiscal year 2006-07.