124th MAINE LEGISLATURE
LD 773 LR 1785(01)
An Act To Increase Funding for Higher Education
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Sen. Alfond of Cumberland
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
             
Preliminary Fiscal Impact Statement
2009-10 2010-11 Projections 2011-12 Projections 2012-13
Net Cost (Savings)
General Fund $49,962,764 $98,663,890 $145,024,734 $157,366,354
Appropriations/Allocations
General Fund $49,962,764 $98,663,890 $145,024,734 $157,366,354
Fiscal Detail and Notes
This bill includes General Fund appropriations totaling $53,981,658 in fiscal year 2009-10 and $104,787,684 in fiscal year 2010-11 for the costs associated with the State contributing 45% of the total operating costs of the University of Maine System, the Maine Community College System and Maine Maritime Academy in fiscal year 2009-10 and 50% of the public higher educational institutions' total operating costs in fiscal year 2010-11. The cost for the State to fund 55% of the total operating costs for the higher educational institutions beginning in fiscal year 2011-12, as required by this legislation, is $153,217,238.  For the 2012-2013 biennium, this fiscal estimate assumes that total operating costs for the higher education institutions grows at an average rate of approximately 4.6% per year and the State's funding, absent the requirements of this legislation, would increase approximately 2.5% per year.  The actual cost to the State may be higher or lower depending on each institution's actual total operating costs.