SP0252
LD 849
Second Regular Session - 125th Maine Legislature
S "E" to C "C", Filing Number S-506, Sponsored by COURTNEY
LR 149
Item 22
Bill Tracking, Additional Documents Chamber Status

Amend the amendment in section 2 in subsection 1 by striking out all of paragraphs A to F (page 2, lines 31 to 41 in amendment) and inserting the following:

A.  Thirty-five Twenty-eight percent to the stabilization fund;
B.  Twenty Sixteen percent to the Retirement Allowance Fund established in section 17251;
C.  Twenty Sixteen percent to the Reserve for General Fund Operating Capital;
D.  Fifteen Twelve percent to the Retiree Health Insurance Internal Service Fund established in section 1519 to be used solely for the purpose of amortizing the unfunded actuarial liability associated with future health benefits; and
E.  Ten Eight percent to the Capital Construction and Improvements Reserve Fund established in section 1516-A . ; and
F Twenty percent to the Tax Relief Fund for Maine Residents established in section 1518-A.

summary

This amendment decreases the percentage of excess revenue that is transferred to the Tax Relief Fund for Maine Residents from 40% to 20% and increases by 1/3 the percentages proposed in the committee amendment the percentage of excess revenue that is transferred to other accounts in the cascade.

FISCAL NOTE REQUIRED
(See attached)


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