PART A

Sec. A-1. 20-A MRSA c. 606-A, as amended, is repealed.

Sec. A-2. 20-A MRSA §15670 is enacted to read:

§15670.__Short title

This chapter may be known and cited as "the Essential Programs and Services Funding Act."

Sec. A-3. 20-A MRSA §15671, sub-§7 is enacted to read:

7.__Transition; annual targets.__To achieve the system of school funding based on essential programs and services required by this section, the following annual targets are established.

A.__The annual targets for the essential programs and services transition percentage are as follows.

(1)__For fiscal year 2005-06, the target is 84%.

(2)__For fiscal year 2006-07, the target is 88%.

(3)__For fiscal year 2007-08, the target is 92%.

(4)__For fiscal year 2008-09, the target is 96%.

(5)__For fiscal year 2009-10 and succeeding years, the target is 100%.

B.__The annual targets for the state share percentage are as follows.

(1)__For fiscal year 2005-06, the target is 44%.

(2)__For fiscal year 2006-07, the target is 45%.

(3)__For fiscal year 2007-08, the target is 46%.

(4)__For fiscal year 2008-09, the target is 48%.

(5)__For fiscal year 2009-10 and succeeding years, the target is 50%.

Sec. A-4. 20-A MRSA §§15672 to 15687 are enacted to read:

§15672.__Definitions