125th MAINE LEGISLATURE
		LD 349		LR 205(01)
	An Act To Require the Inclusion of a Financial Statement on School Administrative Unit Bond Obligations When Voting on a School Construction Project
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Nutting of Oakland
	Committee: Education and Cultural Affairs
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
State Mandate - Unfunded
State Mandates
	Required Activity				Unit Affected	Local Cost
	Requires a treasurer's statement that outlines information on indebtedness, bonding capacity and the estimated cost of repaying the debt be included in an article that is submitted to the voters for a school construction project.				School	Moderate statewide
	The required local activities in this bill may represent a State mandate pursuant to the Constitution of Maine.  Unless General Fund appropriations are provided to fund at least 90% of the additional costs or a Mandate Preamble is amended to the bill and two-thirds of the members of each House vote to exempt this mandate from the funding requirement, municipalities may not be required to implement these changes.
Fiscal Detail and Notes
	This legislation will not affect the total cost of K-12 public education or the state's share of that cost.  This bill may increase costs to those local school administrative units that are submitting articles to the voters for school construction projects to provide the required treasurer's statement.  The amount can not be determined at this time.