122nd MAINE LEGISLATURE
LD 1478 LR 1155(01)
An Act To Clarify Rights of Retainage in Public Improvement Construction Contracts
Fiscal Note for Original Bill
Sponsor: Sen. Mills of Somerset
Committee: State and Local Government
Fiscal Note Required: Yes
   
             
Fiscal Note
Projections Projections
2005-06 2006-07 2007-08 2008-09
Net Cost (Savings)
General Fund $48,275 $37,700 $38,831 $39,996
Appropriations/Allocations
General Fund $48,275 $37,700 $38,831 $39,996
Fiscal Detail and Notes
This legislation will require a General Fund appropriation to the Treasurer of State in the amount of $48,275 in fiscal year 2005-06 and $37,700 in fiscal year 2006-07.  This appropriation will provide funds for an additional staff position and required software to assist in managing retainage as prescribed by the bill.