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all enacted changes affecting state and local tax burden since the | | previous December 1st report of even-numbered years of the Revenue | | Forecasting Committee. |
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| | | Sec. 3. 5 MRSA §1534, sub-§1, as enacted by PL 2005, c. 2, Pt. A, §5 | | and affected by §14, is amended to read: |
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| | | 1. Establishment of General Fund appropriation limitation. | | As of December 1st of each even-numbered year, there must be | established a General Fund appropriation limit | ensuing biennium. The General Fund appropriation limit | | limitation applies to all General Fund appropriations, except | | that the additional cost for essential programs and services for | | kindergarten to grade 12 education under Title 20-A, chapter 606- | | B over the fiscal year 2004-05 appropriation for general purpose | | aid for local schools is excluded from the General Fund | | appropriation limitation until the state share of that cost | | reaches 55% of the total state and local cost. |
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| | | A. For the first fiscal year of the biennium, the General | | Fund appropriation limitation is equal to the biennial base | | year appropriation multiplied by one plus the growth | | limitation factor in subsection 2. |
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| | | B. For the 2nd year of the biennium, the General Fund | appropriation limit | | appropriation limitation of the first year of the biennium | | biennial base year appropriation multiplied by one plus the | | growth limitation factor in subsection 2. |
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| | | Sec. 4. 5 MRSA §1535, as amended by PL 2005, c. 519, Pt. VV, §3, is | | further amended to read: |
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| | | §1535. General Fund transfers to stabilization fund |
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| | | Baseline General Fund revenue, as recommended by the Revenue | Forecasting Commission | | with chapter 151-B, and other available budgeted General Fund | | resources that exceed the General Fund appropriation limitation | | established by section 1534 plus the additional cost for | | essential programs and services for kindergarten to grade 12 | | education under Title 20-A, chapter 606-B over the fiscal year | | 2004-05 appropriation for general purpose aid for local schools | | until the state share of that cost reaches 55% of the total state | | and local cost must be transferred to the stabilization fund. |
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| | | Sec. 5. 30-A MRSA §706-A, sub-§1, ķA, as enacted by PL 2005, c. 2, Pt. | | B, §1 and affected by §§2 and 4 and c. 12, Pt. WW, §14, is | | amended to read: |
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