‘Sec. 4. Contingent effective date; certifications. This Act takes effect 30 days after the Secretary of State certifies to the Office of the Revisor of Statutes that the bond rating for State-issued bonds is within the top 2 rating tiers of the major national bond rating agencies; the forecast of revenue for the following fiscal year equals or exceeds forecasted expenditures under the Maine Revised Statutes, Title 5, section 1665, subsection 7; and the Legislature has appropriated or allocated to the retirement system for the fiscal year funds sufficient to meet the requirements of the 23-year amortization schedule for the unfunded liability of the retirement system established pursuant to Title 5, section 17151, subsection 2.

The Treasurer of State shall certify to the Secretary of State by October 1st annually whether the bond rating for State-issued bonds is within the top 2 rating tiers of the major national bond rating agencies.

The State Budget Officer shall certify to the Secretary of State by October 1st annually whether the forecast of revenue for the following fiscal year equals or exceeds forecasted expenditures under Title 5, section 1665, subsection 7.

The Executive Director of the Maine Public Employees Retirement System shall certify to the Treasurer of State by October 1st annually whether the Legislature has appropriated or allocated to the retirement system for the fiscal year funds sufficient to meet the requirements of the 23-year amortization schedule for the unfunded liability of the retirement system established pursuant to Title 5, section 17151, subsection 2.’