131st MAINE LEGISLATURE
		LD 2092		LR 2800(02)
	An Act to Equalize Funding for the Maine Maritime Academy
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Education and Cultural Affairs
	Fiscal Note Required: Yes
Fiscal Note
Legislative Cost/Study
			FY 2023-24	FY 2024-25	Projections  FY 2025-26	Projections  FY 2026-27
Net Cost (Savings)
	General Fund		$0	$2,618,835	$5,464,735	$8,410,635
Appropriations/Allocations
	General Fund		$0	$2,618,835	$5,464,735	$8,410,635
Legislative Cost/Study
	The general operating expenses of this study are projected to be $3,750 in fiscal year 2024-25. The Legislature’s budget for the 2024-2025 biennium includes $14,500 in each of fiscal years 2023-24 and 2024-25 for the costs of legislative studies, as well as $38,909 of balances carried over from prior years for this purpose. Whether these amounts are sufficient to fund all studies will depend on the number of studies authorized by the Legislative Council and the Legislature. The additional costs of providing staffing assistance to the study during the interim can be absorbed utilizing existing budgeted staff resources.
Fiscal Detail and Notes
	This bill includes ongoing General Fund appropriations of $2,618,835 in fiscal year 2024-25 to the Maritime Academy - Operations program within Maine Maritime Academy (MMA) to increase the percentage of MMA's total state appropriation as a share of its total operating costs by 5% per year until the percentage of the MMA's total state appropriation as a share of its total operating costs equals at least the lesser of the percentage of the University of Maine System's (UMS) and the Maine Community College System's (MCCS) total state appropriation compared to each system's total operating costs.  Currently, MMA's total state appropriation funds approximately 24.82% of its total operating costs while appropriations for the UMS funds approximately 43% of its operating costs and appropriations for MCCS funds approximately 49% of its operating costs.
	Additional costs to the State Board of Education, the UMS, the MCCS, MMA and the Department of Education associated with serving on the commission can be absorbed within existing budgeted resources.