| 122nd MAINE LEGISLATURE | |||||||||
| LD 680 | LR 0532(01) | ||||||||
| An Act To Provide for the Efficient Administration of Scholarship Resources | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Gagnon of Kennebec | |||||||||
| Committee: Business, Research and Economic Development | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| No net fiscal impact | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Appropriations/Allocations | |||||||||
| Other Special Revenue Funds | $0 | $0 | $0 | $0 | |||||
| Revenue | |||||||||
| Other Special Revenue Funds | $0 | $0 | $0 | $0 | |||||
| Fiscal Detail and Notes | |||||||||
| This legislation transfers the administration of the University of Maine Scholarship Fund from the Finance Authority of Maine to the University of Maine System. The University of Maine will require Other Special Revenue Funds allocations of $137,015 in fiscal year 2005-06 and $2,119,144 in fiscal year 2006-07 to administer the scholarship program. The scholarship program is supported through dedicated revenue from license plates, anticipated to be $137,015 in fiscal year 2005-06 and $140,440 in fiscal year 2006-07, and from slot machine revenue, projected to be $1,978,704 in fiscal year 2006-07. The Finance Authority of Maine will require corresponding Other Special Revenue Funds deallocations as a result of transferring the Fund to the University of Maine. | |||||||||