General Fund 2003-04 2004-05

All Other $0 $24,920,771

________ ______________

General Fund Total $0 $24,920,771

Sec. B-17. Appropriations and allocations. The following appropriations and allocations are made.

ADMINISTRATIVE AND FINANCIAL

SERVICES, DEPARTMENT OF

Homestead Property Tax

Exemption Mandate Reimbursement

Initiative: Provides funds to reimburse municipalities for 90% of the estimated local costs incurred to terminate the Maine Residents Property Tax Program.

General Fund 2003-04 2004-05

All Other $0 $190,000

________ ______________

General Fund Total $0 $190,000

PART C

Sec. C-1. 30-A MRSA c. 231 is enacted to read:

CHAPTER 231

LOCAL AND COUNTY GOVERNMENT BUDGET CAP

§6201.__Definitions

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.

1.__Adjusted annual growth rate.__"Adjusted annual growth rate" means the total dollar amount of the municipal or county budget approved by the pertinent local taxation authority for the prior fiscal year multiplied by one plus the average real personal income growth rate, plus the average forecasted inflation rate.