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LR 328
Item 1

 
Sec. A-2. 5 MRSA 1513, as amended by PL 2003, c. 451, Pt. X, 2
to 4, is repealed.

 
Sec. A-3. 5 MRSA 1517, as amended by PL 2003, c. 451, Pt. X, 6,
is repealed.

 
Sec. A-4. 5 MRSA 1518-A is enacted to read:

 
1518-A.__Tax Relief Fund for Maine Residents

 
1.__Tax Relief Fund for Maine Residents.__There is created the
Tax Relief Fund for Maine Residents, which must be used to
provide tax relief to residents of the State.__The fund consists
of all resources transferred to the fund under section 1536 and
other resources made available to the fund.

 
2.__Nonlapsing fund.__Any unexpended balance in the Tax Relief
Fund for Maine Residents may not lapse but must be carried
forward to be used pursuant to subsection 1.

 
Sec. A-5. 5 MRSA c. 142 is enacted to read:

 
CHAPTER 142

 
MAINE BUDGET STABILIZATION FUND

 
1531.__Definitions

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

 
1.__Average population growth.__"Average population growth"
means the average for the prior 10 calendar years, ending with
the most recent calendar year for which data is available, of the
percent change in population from July 1st of each year and
estimated by the United States Department of Commerce, Bureau of
Census as adjusted and maintained by the Executive Department,
State Planning Office.

 
2.__Average real personal income growth.__"Average real
personal income growth" means the average for the prior 10
calendar years, ending with the most recent calendar year for
which data is available, of the percent change in personal income
in this State, as estimated by the United States Department of
Commerce, Bureau of Economic Analysis, less the percent change in
the Consumer Price Index for the calendar year.__For purposes of
this subsection, "Consumer Price Index" has the same meaning as
in Title 36, section 5402, subsection 1.


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