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131st MAINE LEGISLATURE |
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LD 112 |
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LR 207(04) |
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An Act to
Increase the State's Share of Retired Teacher Health Insurance |
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Fiscal Note for
Senate Amendment " " to Committee Amendment "A" |
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Sponsor: Sen. Rotundo of Androscoggin |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2023-24 |
FY 2024-25 |
Projections FY 2025-26 |
Projections FY 2026-27 |
| Net Cost
(Savings) |
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General Fund |
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($4,358,287) |
($6,828,304) |
($7,132,119) |
($7,449,453) |
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| Appropriations/Allocations |
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General Fund |
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($4,358,287) |
($6,828,304) |
($7,132,119) |
($7,449,453) |
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| Fiscal Detail
and Notes |
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This amendment
strikes the provisions in this bill that increase the State's contribution to
the cost of retired teacher's health insurance premiums from 55% to 60% in
fiscal year 2023-24 and from 60% to 65% in fiscal year 2024-25 and instead
provides that the increase in the State's contribution from 55% to 60%
already enacted by Public Law 2023, chapter 412, Part OOOOO becomes effective
on November 1, 2023 instead of July 1, 2023. As amended, this bill includes a
one-time General Fund deappropriation of $1,089,572 in fiscal year 2023-24 to
reflect the reduced cost to the State from delaying the effective date. |
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