| 124th MAINE LEGISLATURE | ||||||
| LD 104 | LR 590(01) | |||||
| An Act To Fund Fully the Purchase of Military Time | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Rep. Davis, Sr. of Sangerville | ||||||
| Committee: Appropriations and Financial Affairs | ||||||
| Fiscal Note Required: Yes | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| 2008-09 | 2009-10 | 2010-11 | Projections 2011-12 | Projections 2012-13 | ||
| Net Cost (Savings) | ||||||
| General Fund | $193,988 | $0 | $0 | $0 | $0 | |
| Appropriations/Allocations | ||||||
| General Fund | $193,988 | $0 | $0 | $0 | $0 | |
| Fiscal Detail and Notes | ||||||
| This bill includes a one-time General Fund appropriation of $193,933 in fiscal year 2008-09 to the Maine Public Employees Retirement System (MainePERS) for the cost associated with subsidizing the purchase of military service credit for 6 members who were determined to be eligible in calendar year 2004 pursuant to Public Law 2003, Chapter 693. However, information provided by the Retirement System in its January 2009 report indicates that 2 of the 6 qualified members have retired and are no longer eligible to purchase the military service credit. Given this updated information, the General Fund appropriation needed to fund the remaining 4 eligible members is $164,015. | ||||||