124th MAINE LEGISLATURE
		LD 840		LR 155(02)
	RESOLUTION, Proposing an Amendment to the Constitution of Maine To Control Property Tax Increases
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Taxation
	Fiscal Note Required: Yes
Fiscal Note
Current biennium cost increase - General Fund
Referendum Costs		Month/Year	Election Type	Question	Length
		Nov-09	General	Referendum	Standard
	The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November.  If the number or size of the referendum questions requires production and delivery of a second ballot, an additional appropriation of $107,250 may be required.
Fiscal Detail and Notes
	Amending the Constitution of Maine to limit increases in the valuation of property to the amount of inflation except under certain conditions will not affect the total cost of K-12 public education or the state's share of that cost.  However, changes in State Valuation will result in a redistribution of state subsidy with some school administrative districts receiving more funds and some school administrative units receiving less.  The impact to individual school administrative units can not be determined at this time.