127th MAINE LEGISLATURE
		LD 1277		LR 1310(03)
	An Act To Establish a Magnet School for Marine Science, Technology, Transportation and Engineering
	Fiscal Note for Bill as Engrossed with: C "A" (H-314)
	Committee: Education and Cultural Affairs
Fiscal Note
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.  The requirement that the powers, duties and authority of the school cease 90 days after adjournment of the 1st Regular Session of the 129th Legislature unless legislative action is taken may limit the General Fund cost of this legislation to 2 years.
	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.