CHAPTER 621

H.P. 1350 - L.D. 1909

An Act To Make Minor Technical Changes to Maine's Spending

Growth Benchmarks

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 5 MRSA §1531, sub-§2, as enacted by PL 2005, c. 2, Pt. A, §5 and affected by §14, is amended to read:

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. The average real personal income growth is determined by October 1st, annually, by the Director of the State Planning Office within the Executive Department.

Sec. 2. 5 MRSA §1531, sub-§3, as enacted by PL 2005, c. 2, Pt. A, §5 and affected by §14, is amended to read:

3. Baseline General Fund revenue. "Baseline General Fund revenue" means the recommended General Fund revenue forecast reported by the Revenue Forecasting Committee in its December 1st report of even-numbered years, increased by the estimated amount of net General Fund revenue decrease, if any, for all enacted changes reducing state and local tax burden included in that forecast the net reduction of General Fund revenue, if any, for