127th MAINE LEGISLATURE
LD 1277 LR 1310(01)
An Act To Establish a Magnet School for Marine Science, Technology, Transportation and Engineering
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Gillway of Searsport
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
             
Preliminary Fiscal Impact Statement
Future biennium cost increase - General Fund
Fiscal Detail and Notes
This legislation establishes the Maine School for Marine Science, Technology, Transportation and Engineering as a public, residential school to be located in the Town of Searsport effective with the 2017-2018 school year.  The provisions in this bill that allow students from the State to attend the school free of tuition charges and for the State to pay the difference between the cost of room and board and the student's ability to pay that cost will increase General Fund costs to the State beginning in fiscal year 2017-18.  The amount can not be determined at this time and will depend on the cost of tuition, the number of Maine students admitted to the school and the student's ability to pay for room and board.
This legislation also authorizes the Board of Trustees of the Maine School for Marine Science, Technology, Transportation and Engineering to borrow funds, issue bonds and negotiate notes and other evidences of indebtedness or obligations of the school for renovation and construction purposes but provides that the bonds, notes and other evidences of indebtedness are not debts of the State and do not pledge the credit of the State.
Additional costs to the Department of Education and the University of Maine System to serve on the board of trustees can be absorbed within existing budgeted resources.