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130th MAINE LEGISLATURE |
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LD 1963 |
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LR 2573(02) |
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An Act To Create
the General Purpose Aid Stabilization Fund |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Education and Cultural Affairs |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2021-22 |
FY 2022-23 |
Projections FY 2023-24 |
Projections FY 2024-25 |
| Net Cost
(Savings) |
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General Fund |
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$30,000,000 |
$0 |
$0 |
$0 |
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| Transfers |
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General Fund |
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($30,000,000) |
$0 |
$0 |
$0 |
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Other Special Revenue Funds |
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$30,000,000 |
$0 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill
requires the State Controller to transfer $30,000,000 from the General Fund
unappropriated surplus to a newly established Education Stabilization Fund
within the Department of Education on or before June 30, 2022 to be used to
offset a reduction in the budgeted state share of Essential Programs and
Services pursuant to Title 20-A, section 15671, subsection 7-B that would
otherwise result if sufficient General Fund revenues or other funds are not
available to fully fund the required state contribution in any fiscal year. |
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