This section is repealed June 30, 2007.

Sec. AAAA-23. Transition adjustments; school districts with significant increase in property valuation. The following transition adjustments apply to eligible school administrative districts and community school districts.

1. For fiscal year 2006-07, eligible school administrative districts and community school districts must receive transition adjustments to the member municipalities' local contributions and the districts' state contributions.

A. A school administrative district or community school district is eligible for these adjustments if it meets the following eligibility criteria.

(1) One or more member municipalities must have a local contribution that is at the established mill expectation.

(2) A member municipality's local contribution pursuant to the Maine Revised Statutes, Title 20-A, section 15688 is at least 15% greater than that municipality's local share would have been under its existing local cost-sharing formula and that member municipality experiences a growth in state-certified valuation of more than 2.5% over the state average from the 2004 state-certified valuation and the 2005 state- certified valuation.

B. A school administrative district or community school district that meets the eligibility criteria in paragraph A must receive a transition adjustment to the state contribution equal to the following.

(1) For each municipality in the district that meets the eligibility criteria in paragraph A, the results of the 2.5% of that municipality's 2004 state-certified valuation times the established mill expectation.

C. A school administrative district or community school district that meets the eligibility criteria in paragraph A must have its local contribution adjusted as follows.