| 122nd MAINE LEGISLATURE | |||||||||
| LD 1974 | LR 3082(21) | ||||||||
| An Act to Make Additional Allocations from the Highway Fund and Other Funds for the Expenditures of State Government and To Change Certain Provisions of State Law Necessary to the Proper Operations of State Government for the Fiscal Years Ending June 30, 2006 and June 30, 2007 | |||||||||
| Fiscal Note for Senate Amendment " " to Committee Amendment "B" | |||||||||
| Sponsor: Sen. Gagnon | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| Projections | Projections | ||||||||
| 2005-06 | 2006-07 | 2007-08 | 2008-09 | ||||||
| Net Cost (Savings) | |||||||||
| General Fund | $0 | $8,737 | $0 | $0 | |||||
| Highway Fund | $0 | $7,858,205 | $0 | $0 | |||||
| Revenue | |||||||||
| General Fund | $0 | ($8,737) | $0 | $0 | |||||
| Highway Fund | $0 | ($7,858,205) | $0 | $0 | |||||
| Other Special Revenue Funds | $0 | ($153,058) | $0 | $0 | |||||
| Referendum Costs | |||||||||
| Referendum Costs | Month/Year | Election Type | Question | Length | |||||
| Nov-06 | General | Referendum | Standard | ||||||
| The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November. If the number or size of the referendum questions increases the ballot length, an additional appropriation of $8,000 or more may be required. | |||||||||
| Fiscal Detail and Notes | |||||||||
| The net effects of suspending fuel tax indexing for fiscal year 2006-07 will result in one-time revenue losses of $7,858,205 to the Highway Fund, $8,737 to the General Fund and $153,058 to Other Special Revenue Funds. Based on the estimated year-end balances for the Highway Fund, a balanced budget is not maintained for the 2006-2007 biennium. | |||||||||
| If the GARVEE bond proposed in this amendment is approved by the voters in a statewide election, debt service would be financed entirely through the use of future federal revenues from the Federal Highway Administration. | |||||||||