LD 112 LR 207(04)
An Act to Increase the State's Share of Retired Teacher Health Insurance
Fiscal Note for Senate Amendment " " to Committee Amendment "A"
Sponsor: Sen. Rotundo of Androscoggin
Fiscal Note Required: Yes
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund ($4,358,287) ($6,828,304) ($7,132,119) ($7,449,453)
General Fund ($4,358,287) ($6,828,304) ($7,132,119) ($7,449,453)
Fiscal Detail and Notes
This amendment strikes the provisions in this bill that increase the State's contribution to the cost of retired teacher's health insurance premiums from 55% to 60% in fiscal year 2023-24 and from 60% to 65% in fiscal year 2024-25 and instead provides that the increase in the State's contribution from 55% to 60% already enacted by Public Law 2023, chapter 412, Part OOOOO becomes effective on November 1, 2023 instead of July 1, 2023. As amended, this bill includes a one-time General Fund deappropriation of $1,089,572 in fiscal year 2023-24 to reflect the reduced cost to the State from delaying the effective date.