122nd MAINE LEGISLATURE
LD 1974 LR 3082(21)
An Act to Make Additional Allocations from the Highway Fund and Other Funds for the Expenditures of State Government and To Change Certain Provisions of State Law Necessary to the Proper Operations of State Government for the Fiscal Years Ending June 30, 2006 and June 30, 2007
Fiscal Note for Senate Amendment "   " to Committee Amendment "B"
Sponsor: Sen. Gagnon
Fiscal Note Required: Yes
   
             
Fiscal Note
Projections Projections
2005-06 2006-07 2007-08 2008-09
Net Cost (Savings)
General Fund $0 $8,737 $0 $0
Highway Fund $0 $7,858,205 $0 $0
Revenue
General Fund  $0 ($8,737) $0 $0
Highway Fund $0 ($7,858,205) $0 $0
Other Special Revenue Funds $0 ($153,058) $0 $0
Referendum Costs
Referendum Costs Month/Year Election Type Question Length
Nov-06 General Referendum Standard
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 increases the ballot length, an additional appropriation of $8,000 or more may be required. 
Fiscal Detail and Notes
The net effects of suspending fuel tax indexing for fiscal year 2006-07 will result in one-time revenue losses of $7,858,205 to the Highway Fund, $8,737 to the General Fund and $153,058 to Other Special Revenue Funds.  Based on the estimated year-end balances for the Highway Fund, a balanced budget is not maintained for the 2006-2007 biennium.
If the GARVEE bond proposed in this amendment is approved by the voters in a statewide election, debt service would be financed entirely through the use of future federal revenues from the Federal Highway Administration.