124th MAINE LEGISLATURE
		LD 1816		LR 2610(01)
	An Act To Authorize a Bond Issue for Ratification by the Voters for the June 2010 Election To Create Jobs in the State
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Mitchell of Kennebec
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund
Bond Issues		Term (years)	Principal	Rate (%)	Interest	Total Cost
	General Fund - Non-Taxable	10	$94,000,000	4.0%	$20,680,000	$114,680,000
	General Fund - Taxable	10	$5,170,000	5.0%	$1,421,750	$6,591,750
Referendum Costs		Month/Year	Election Type	Question	Length
		Jun-10	Special	Bond Issue	Standard
	The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November. This bill requires a special election in June of 2010 and there is no money budgeted for such an expense.  However, even without this bill the state had already become committed to a special election for bonds from the 1st Regular Session of the 124th Legislature.  The proposed supplemental budget, LD 1671, includes $153,500 for the June 2010 election, which would cover the full cost of producing and delivering ballots of a standard size to the 503 municipalities, along with the costs of producing and distributing the Citizen’s Guide to the Referendum Election and producing and providing other forms, materials and instructions.  It is anticipated that the proposed appropriation of $153,500 will be adequate to accommodate the referendum costs of this bill and those from the previously committed bonds.