B. By fiscal year 2009-10 the state share of the total cost of funding public education from kindergarten to grade 12, as described by essential programs and services, must be 55%. Beginning in fiscal year 2003-04 2005-06 and in each fiscal year until fiscal year 2007-08 2009-10, the level of the state share of funding attributable to the cost of the components of essential programs and services described costs must increase toward the 50% 55% level of eligible state and local General Fund education costs required in fiscal year 2009-10.

Beginning in fiscal year 2003-04 2005-06 and in each fiscal year thereafter, the commissioner shall use the funding level determined in accordance with this section as the basis for a recommended funding level for the state share of the cost of the components of essential programs and services.

Sec. 10. 20-A MRSA §15671, sub-§7, ¶B, as enacted by PL 2003, c. 504, Pt. A, §5, is amended to read:

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

(1) For fiscal year 2005-06, the target is 49% 52.6%.

(2) For fiscal year 2006-07, the target is 49.25% 52.6%.

(3) For fiscal year 2007-08, the target is 49.50% 53%.

(4) For fiscal year 2008-09, the target is 49.75% 54%.

(5) For fiscal year 2009-10 and succeeding years, the target is 50% 55%.

Sec. 11. 20-A MRSA §15671-A is enacted to read:

§15671-A.__Property tax contribution to public education

1.__Definitions.__As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

A.__"Funding public education from kindergarten to grade 12" means providing the cost of funding the essential programs and services described in this chapter plus the total