125th MAINE LEGISLATURE
		LD 426		LR 264(02)
	An Act To Amend the Laws Governing the TransCap Trust Fund
	Fiscal Note for Bill as Amended by Committee Amendment "   "
	Committee: Transportation
	Fiscal Note Required: Yes
Fiscal Note
Potential current biennium cost increase - General Fund
			FY 2011-12	FY 2012-13	Projections  FY 2013-14	Projections  FY 2014-15
Appropriations/Allocations
	Other Special Revenue Funds		$0	$0	$0	$0
Transfers
	Other Special Revenue Funds		$0	$0	$0	$0
Referendum Costs		Month/Year	Election Type	Question	Length
		Nov-11	General	Referendum	Standard
	This legislation requires voter approval of all Transcap revenue bonding.  The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general election in November.  Depending on whether or not the number of questions at any particular election causes the production amd delivery of a second ballot, the Secretary of State may require a General Fund Appropriation of $107,250.
Fiscal Detail and Notes
	This bill proposes that 9.5% of the gasoline and special fuel taxes and certain motor vehicle fees which are currently deposited to the TransCap Trust Fund be transferred to the Urban-Rural Initiative program.  As a result of this transfer, the bill includes an Other Special Revenue Funds deallocation to the TransCap Trust Fund at the Maine Municipal Bond Bank of $2,328,862 in fiscal year 2011-12 and $3,145,471 in fiscal year 2012-13 and a corresponding increase in Other Special Revenue Funds revenue to the Urban-Rural Initiative Program within the Department of Transportation.
	The bill includes an Other Special Revenue Funds allocation of $2,328,862 in fiscal year 2011-12 and $3,145,471 in fiscal year 2012-13 to the Department of Transportation.