An Act To Raise the School Construction Bond Cap
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §15905, sub-§1, ¶A, as amended by PL 2011, c. 1, Pt. E, §1, is further amended to read:
A. The state board may approve projects as long as no project approval will cause debt service costs, as defined in section 15672, subsection 2-A, paragraph A and pursuant to Resolve 2007, chapter 223, section 4, to exceed the maximum limits specified in Table 1 in subsequent fiscal years.
| Table 1 | |||
| Major Capital | Integrated, Consolidated Secondary and Postsecondary Project | ||
| Fiscal year | Maximum Debt Service Limit | Maximum Debt Service Limit | |
| 1990 | $ 48,000,000 | ||
| 1991 | $ 57,000,000 | ||
| 1992 | $ 65,000,000 | ||
| 1993 | $ 67,000,000 | ||
| 1994 | $ 67,000,000 | ||
| 1995 | $ 67,000,000 | ||
| 1996 | $ 67,000,000 | ||
| 1997 | $ 67,000,000 | ||
| 1998 | $ 67,000,000 | ||
| 1999 | $ 69,000,000 | ||
| 2000 | $ 72,000,000 | ||
| 2001 | $ 74,000,000 | ||
| 2002 | $ 74,000,000 | ||
| 2003 | $ 80,000,000 | ||
| 2004 | $ 80,000,000 | ||
| 2005 | $ 84,000,000 | ||
| 2006 | $ 90,000,000 | ||
| 2007 | $ 96,000,000 | ||
| 2008 | $100,000,000 | ||
| 2009 | $104,000,000 | ||
| 2010 | $108,000,000 | ||
| 2011 | $126,000,000 | ||
| 2012 | $116,000,000 | ||
| 2013 | $116,000,000 | ||
| 2014 | $116,000,000 $126,000,000 | $10,000,000 | |
| 2015 | $116,000,000 $126,000,000 | $10,000,000 | |
summary
This bill increases the major capital maximum debt service limit for school construction projects for fiscal years 2013-14 and 2014-15 to $126,000,000.