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126th MAINE LEGISLATURE |
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LD 130 |
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LR 627(01) |
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An Act To
Stabilize Education Funding by Reducing the Impact of Changes in Property
Valuation |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Sen. Millett of Cumberland |
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Committee: Education and Cultural Affairs |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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| No State fiscal impact |
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| Fiscal Detail
and Notes |
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Requiring the
property fiscal capacity component of the school funding formula to be based
on a rolling 5-year average of the property values of a municipality included
in a school administrative unit (SAU) instead of the certified state
valuation for the year prior to the most recently certified state valuation
as defined in current law will not change the total state and local cost of
K-12 public education or the state's share of that cost. It may, however, affect the required local
contribution for specific local school administrative units and, therefore,
the amount of state subsidy received by each SAU. The impact to individual SAU's can not be
determined at this time. |
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