Beginning in fiscal year 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. D-35. 20-A MRSA §15671, sub-§7, as amended by PL 2003, c. 712, §10, is further amended 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, excluding program cost allocation, debt service allocation and adjustments, are as follows.

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

(2) For fiscal year 2006-07, the target is 88% 90%.

(3) For fiscal year 2007-08, the target is 92% 95%.

(4) For fiscal year 2008-09 and succeeding years, the target is 96% 100%.

(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 52.6%.

(2) For fiscal year 2006-07, the target is 52.6% 53.86%.

(3) For fiscal year 2007-08, the target is 53% 54.44%.