131st MAINE LEGISLATURE
		LD 1394		LR 1314(03)
	An Act to Expand and Strengthen the Competitive Skills Scholarship Program
	Fiscal Note for Bill as Engrossed with: C "A" (S-169)
	Committee: Labor and Housing
Fiscal Note
			FY 2023-24	FY 2024-25	Projections  FY 2025-26	Projections  FY 2026-27
Appropriations/Allocations
	Competitive Skills Scholarship Fund		$3,500,000	$3,500,000	$3,500,000	$3,500,000
Revenue
	Employment Security Trust Fund		($3,500,000)	($3,500,000)	($3,500,000)	($3,500,000)
	Competitive Skills Scholarship Fund		$3,500,000	$3,500,000	$3,500,000	$3,500,000
Fiscal Detail and Notes
	This bill increases the Competitive Skills Scholarship Fund planned yield from .02% to .034%, thus increasing employer contributions to the Fund by an estimated $3,500,000 per year beginning in fiscal year 2023-24.  This bill includes corresponding allocations to the Competitive Skills Scholarship Program within the Department of Labor to support expenditures for additional services for eligible individuals to participate in the program as a result of the increase in revenues.  Employer contributions to the Employment Security Trust Fund are reduced by the same amount pursuant to Title 26, section 1166, subsection 8, resulting in this initiative having a zero net impact on employers.