An Act To Limit Increases in the State's Share of Funding for Kindergarten to Grade 12 Public Education
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §15671, sub-§1-B is enacted to read:
1-B. Limitation on increase in state funding for kindergarten to grade 12 public education. Notwithstanding any other provision of law, once the state share percentage of the total cost of funding public education from kindergarten to grade 12 reaches 55% pursuant to subsection 7, paragraph B, funding for the State's share may not exceed the prior fiscal year's share multiplied by one plus the most recent percentage of annual increase in the Consumer Price Index.
SUMMARY
This bill limits the State's share of the total cost of funding public education from kindergarten to grade 12 to no more than the prior fiscal year's share multiplied by one plus the most recent percentage of annual increase in the Consumer Price Index once the state share percentage reaches 55%.