Amend the amendment in Part C by striking out all of section 10 and inserting the following:
‘Sec. C-10. Total cost of funding public education from kindergarten to grade 12. The total cost of funding public education from kindergarten to grade 12 for fiscal year 2007-08 is as follows:
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2007-08 |
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TOTAL |
| Total Operating Allocation |
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Total operating allocation pursuant to the Maine Revised Statutes, Title 20-A, section 15683 without transition percentage |
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$1,313,158,488 |
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Total operating allocation pursuant to the Maine Revised Statutes, Title 20-A, section 15683 with 95% transition percentage |
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$1,247,500,564 |
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Transition adjustments pursuant to the Maine Revised Statutes, Title 20-A, section 15686 |
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$3,264,728 |
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Total other subsidizable costs pursuant to the Maine Revised Statutes, Title 20-A, section 15681-A |
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$236,671,240 |
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|
 |
| Total Operating Allocation |
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Total operating allocation pursuant to the Maine Revised Statutes, Title 20-A, section 15683 with 95% transition percentage plus transition adjustment pursuant to Title 20-A, section 15686 and total other subsidizable costs pursuant to Title 20-A, section 15681-A |
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$1,487,436,532 |
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| Total Debt Service Allocation |
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Total debt service allocation pursuant to the Maine Revised Statutes, Title 20-A, section 15683-A |
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$90,484,971 |
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| Total Adjustments and Miscellaneous Costs |
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Total adjustments and miscellaneous costs pursuant to the Maine Revised Statutes, Title 20-A, sections 15689 and 15689-A |
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$249,702,275 |
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| Total Cost of Funding Public Education from Kindergarten to Grade 12 |
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Total cost of funding public education from kindergarten to grade 12 for fiscal year 2007-08 pursuant to the Maine Revised Statutes, Title 20-A, chapter 606-B |
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$1,827,623,778 |
’
Amend the amendment in Part C by inserting after section 13 the following:
‘Sec. C-14. Expenditure for employer’s share of teacher retirement costs. For the 2007-08 fiscal year and 2008-09 fiscal year, the Commissioner of Education shall expend and disburse funds to the Maine State Retirement System for the employer’s share of teacher retirement costs in accordance with the Maine Revised Statutes, Title 5, section 17154, subsections 2 and 6 and section 17254.’
Amend the amendment by inserting after Part XXXX the following:
PART YYYY
‘
Sec. YYYY-1. Transfers to Local Government Fund. Notwithstanding any other provision of law, the State Controller shall transfer from the General Fund unappropriated surplus $177,054,037 in fiscal year 2007-08 and $178,669,830 in fiscal year 2008-09 to the Local Government Fund to be distributed pursuant to the Maine Revised Statutes, Title 30-A, section 5681, subsections 4-A and 4-B. These transfers to the Local Government Fund are exempt from the 2% transfer to the Fund for the Efficient Delivery of Local and Regional Services pursuant to Title 30-A, section 5681, subsection 5-B.
Sec. YYYY-2. Appropriations and allocations. The following appropriations and allocations are made.
EDUCATION, DEPARTMENT OF
Teacher Retirement 0170
Initiative: Deappropriates funds for teacher retirement due to funding for the program being placed into General Purpose Aid.
| GENERAL FUND |
2007-08 |
2008-09 |
|
All Other
|
($177,054,037) |
($178,669,830) |
|
|
|
| GENERAL FUND TOTAL |
($177,054,037) |
($178,669,830) |
’
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
summary
Under current law, the State is required to fund 55% of essential programs and services by fiscal year 2008-09 and to work towards that goal each fiscal year leading up to fiscal year 2008-09. The State’s share of teacher retirement costs does not count towards the 55%.
This amendment changes that treatment of the State’s share of teacher retirement costs, so that the amount paid by the State is counted towards the attainment of the 55% state funding goal. Counting the State’s share of teacher retirement costs towards the 55% allows for a transfer under this amendment of $177,054,037 and $178,669,830 to the Local Government Fund in fiscal years 2007-08 and 2008-09, respectively, to be used for state-municipal revenue sharing.
FISCAL NOTE REQUIRED
(See attached)