LD 1486
RESOLVE Chapter 125

Signed on 2009-06-10 00:00:00.0 - First Regular Session - 124th Maine Legislature
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LR 2010
Item 1
Bill Tracking Chamber Status

Resolve, To Establish a Transition Adjustment for Fiscal Year 2009-10

Sec. 1. Transition adjustment for fiscal year 2009-10. Resolved: That, notwithstanding any provision of law to the contrary, the Commissioner of Education shall establish a transition adjustment to minimize the adverse fiscal impact that may be experienced by some municipalities as a result of unique changes in "property fiscal capacity" as defined in the Maine Revised Statutes, Title 20-A, section 15672, subsection 23. A municipality is eligible for this adjustment if the municipality experiences:

1. An increase of 14% or more in property fiscal capacity from the 2007 certified state valuation to the 2008 certified state valuation; and

2. A decrease of 6% or more in property fiscal capacity from the 2008 certified state valuation to the 2009 certified state valuation.

A municipality eligible under this section is entitled to receive a transition adjustment that provides that the property fiscal capacity of that municipality is the 2009 certified state valuation for fiscal year 2009-10 funding calculations.

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