| 123rd MAINE LEGISLATURE | ||||||
| LD 781 | LR 2453(02) | |||||
| An Act Making Unified Highway Fund and Other Funds Allocations for the Expenditures of State Government and Changing Certain Provisions of the Law Necessary to the Proper Operations of State Government for the Fiscal Years Ending June 30, 2008 and June 30, 2009 | ||||||
| Fiscal Note for Bill as amended by Committee Amendment " " | ||||||
| Committee: Transportation | ||||||
| Fiscal Note Required: Yes | ||||||
| Fiscal Note | ||||||
| Unbudgeted
Revenue Loss - General Fund Authorization of GARVEE Federal Bonding |
||||||
| 2006-07 | 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | ||
| Net Cost (Savings) | ||||||
| Highway Fund | ($1,231,790) | $340,405,685 | $344,283,786 | $312,848,974 | $317,658,583 | |
| Appropriations/Allocations | ||||||
| Highway Fund | ($251,654) | $341,139,816 | $344,443,786 | $313,008,974 | $317,818,583 | |
| Federal Expenditures Fund | $0 | $191,241,259 | $193,484,736 | $71,994,391 | $72,890,537 | |
| Other Special Revenue Funds | $0 | $14,443,760 | $14,451,615 | $6,716,388 | $6,741,925 | |
| Transportation Facilities Fund | $0 | $2,500,000 | $2,500,000 | $2,500,000 | $2,500,000 | |
| Fleet Services Fund - DOT | $0 | $27,788,770 | $27,495,989 | $27,922,163 | $28,361,463 | |
| State Transit, Aviation and Rail Transportation Fund | $0 | $4,148,483 | $3,162,897 | $2,172,763 | $2,182,932 | |
| Island Ferry Services Fund | $0 | $7,624,326 | $7,746,702 | $7,902,892 | $8,063,892 | |
| Marine Ports Fund | $0 | $103,959 | $103,959 | $103,959 | $103,959 | |
| Revenue | ||||||
| Highway Fund | $0 | $210,000 | $160,000 | $160,000 | $160,000 | |
| State Transit, Aviation and Rail Transportation Fund | $0 | $2,000,000 | $1,000,000 | $0 | $0 | |
| Transfers | ||||||
| Highway Fund | $980,136 | $524,131 | $0 | $0 | $0 | |
| 2006-07 | 2007-08 | 2008-09 | Projections 2009-10 | Projections 2010-11 | ||
| Fund Detail by Section | ||||||
| Appropriations/Allocations | ||||||
| Highway Fund | ||||||
| PART A, Section 1 | $0 | $342,008,386 | $345,522,671 | $314,112,038 | $318,946,571 | |
| PART A, Section 2 | ($251,654) | $0 | $0 | $0 | $0 | |
| PART B, Section 1 | $0 | $0 | $0 | $2,280 | $4,630 | |
| PART C, Section 2 | $0 | ($405,351) | ($613,889) | ($626,026) | ($638,537) | |
| PART E, Section 2 | $0 | ($463,219) | ($464,996) | ($479,318) | ($494,081) | |
| Federal Expenditures Fund | ||||||
| PART A, Section 1 | $0 | $191,241,259 | $193,484,736 | $71,994,087 | $72,889,918 | |
| PART B, Section 1 | $0 | $0 | $0 | $304 | $619 | |
| Other Special Revenue Funds | ||||||
| PART A, Section 1 | $0 | $14,443,760 | $14,451,615 | $6,716,366 | $6,741,881 | |
| PART B, Section 1 | $0 | $0 | $0 | $22 | $44 | |
| Transportation Facilities Fund | ||||||
| PART A, Section 1 | $0 | $2,500,000 | $2,500,000 | $2,500,000 | $2,500,000 | |
| Fleet Services Fund - DOT | ||||||
| PART A, Section 1 | $0 | $27,788,770 | $27,495,989 | $27,922,028 | $28,361,190 | |
| PART B, Section 1 | $0 | $0 | $0 | $135 | $273 | |
| State Transit, Aviation and Rail Transportation Fund | ||||||
| PART A, Section 1 | $0 | $2,148,483 | $2,162,897 | $2,172,763 | $2,182,932 | |
| PART O, Section 3 | $0 | $2,000,000 | $1,000,000 | $0 | $0 | |
| Island Ferry Services Fund | ||||||
| PART A, Section 1 | $0 | $7,624,326 | $7,746,702 | $7,902,892 | $8,063,892 | |
| Marine Ports Fund | ||||||
| PART A, Section 1 | $0 | $103,959 | $103,959 | $103,959 | $103,959 | |
| Revenue | ||||||
| Highway Fund | ||||||
| PART M, Section 1 | $0 | ($140,000) | ($140,000) | ($140,000) | ($140,000) | |
| PART R, Section 1 | $0 | $350,000 | $300,000 | $300,000 | $300,000 | |
| State Transit, Aviation and Rail Transportation Fund | ||||||
| PART O, Section 2 | $0 | $2,000,000 | $1,000,000 | $0 | $0 | |
| Transfers | ||||||
| Highway Fund | ||||||
| PART J, Section 1 | $980,136 | $0 | $0 | $0 | $0 | |
| PART L, Section 1 | $0 | $524,131 | $0 | $0 | $0 | |
| Fiscal Detail and Notes | ||||||
| Part O of this bill directs the proceeds from the salvage of rail track taken from Calais Branch rail corridor into the State Transit, Aviation and Rail Transportation Fund within the Department of Transportation rather than the default General Fund. The estimated salvage value of this rail track is $3,000,000. Dedicating this revenue to the State Transit, Aviation and Rail Transportation Fund constitutes the loss of unbudgeted General Fund revenue in the amounts of $2,000,000 in fiscal year 2007-08 and $1,000,000 in fiscal year 2008-09. | ||||||
| Part P of this bill provides enabling legislation for GARVEE bonds for highway and bridge improvement projects and authorizes a GARVEE bond of up to $50 million dollars for the 2008-2009 biennium. These GARVEE bonds are a type of revenue bond that do not pledge the full faith and credit of the State. The principal and interest payments of these bonds are paid by future federal transportation grants received by the State. | ||||||