| 123rd MAINE LEGISLATURE | ||||||
| LD 2324 | LR 3618(01) | |||||
| An Act To Expedite the Maintenance and Repair of Maine's Transportation Network | ||||||
| Fiscal Note for Original Bill | ||||||
| Sponsor: Sen. Damon of Hancock | ||||||
| Committee: Not Referred | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | |||
| Net Cost (Savings) | ||||||
| General Fund | $0 | $0 | $5,319,304 | $5,319,304 | ||
| Highway Fund | $0 | $0 | $0 | $0 | ||
| Appropriations/Allocations | ||||||
| General Fund | $0 | $0 | $5,319,304 | $5,319,304 | ||
| Highway Fund | $0 | $0 | ($5,319,304) | ($5,319,304) | ||
| Other Special Revenue Funds | $0 | $5,000,000 | $5,319,304 | $5,319,304 | ||
| Transfers | ||||||
| Highway Fund | $0 | $0 | ($5,319,304) | ($5,319,304) | ||
| Other Special Revenue Funds | $0 | $5,000,000 | $5,319,304 | $5,319,304 | ||
| Fiscal Detail and Notes | ||||||
| This bill includes a one-time $5,000,000 transfer from the Maine Budget Stabilization Fund to the TransCap Trust Fund by June 30, 2009, and an Other Special Revenue Funds allocation to the TransCap Trust Fund in fiscal year 2008-09 for debt service. It also provides that beginning in fiscal year 2009-10, the allocation of Department of Public Safety, State Police costs will change from 40% General Fund and 60% Highway Fund to 51% General Fund and 49% Highway Fund. This change will result in an additional General Fund cost of $5,319,304 beginning in fiscal year 2009-10, and a corresponding savings to the Highway Fund. The $5,319,304 savings will be transferred from the Highway Fund to the TransCap Trust Fund to cover debt service costs. | ||||||