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132nd MAINE LEGISLATURE |
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LD 826 |
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LR 1987(01) |
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An Act to
Authorize a General Fund Bond Issue to Establish the School Energy Savings
Revolving Loan Fund |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Sen. Pierce of Cumberland |
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Committee: Appropriations and Financial Affairs |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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| Potential current biennium cost increase - General Fund |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Appropriations/Allocations |
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Other Special Revenue Funds |
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$0 |
$500 |
$500 |
$500 |
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| Bond Issues |
Term (years) |
Principal |
Rate (%) |
Interest |
Total Cost |
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General Fund - Non-Taxable |
10 |
$10,000,000 |
5.0% |
$2,750,000 |
$12,750,000 |
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| Referendum Costs |
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Month/Year |
Election Type |
Question |
Length |
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Nov-26 |
General |
Bond Issue |
Standard |
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The Secretary of
State's budget includes sufficient funds to accommodate one ballot of average
length for the general election in November. If the number or size of the
referendum questions requires production and delivery of a second ballot, an
additional appropriation of $341,000 may be required. |
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| Fiscal Detail
and Notes |
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This bill
authorizes a bond issue, for which the proceeds of sale must be expended to
capitalize the School Energy Savings Revolving Loan Fund (fund), which will
support energy and energy efficiency projects in schools in this State. The
Department of Education will require a baseline Other Special Revenue Funds
allocation of $500 per year beginning in fiscal year 2026-27 to the fund in
order to receive proceeds from the sale of bonds authorized by this
bill. |
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