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Amend the amendment by inserting after Part MMMM the following:
PART NNNN
‘
Sec. NNNN-1. 20-A MRSA §1462, sub-§3,  as enacted by PL 2007, c. 240, Pt. XXXX, §13, is amended to read:
 
3. Financing assumed debts.   A regional school unit shall assume the outstanding indebtedness of a school administrative unit in existence prior to the operational date of the new regional school unit for school construction projects approved for subsidy under chapter 609 and pursuant to section 1506. If a regional school unit board of directors has assumed the outstanding indebtedness of a school administrative unit in existence prior to the operational date of the new regional school unit, the directors of the regional school unit board may, notwithstanding any other statute or any provision of any trust agreement, use any sinking fund or other money set aside by the school administrative unit in existence prior to the operational date of the new regional school unit to pay off the indebtedness for which the money was dedicated. A regional school unit board of directors is not required to assume the outstanding indebtedness of a school administrative unit in existence prior to the operational date of the new regional school unit in its regional school unit for nonstate-funded projects pursuant to section 15905-A and pursuant to section 14811481-A.
Sec. NNNN-2. 20-A MRSA §1463, sub-§2,  as enacted by PL 2007, c. 240, Pt. XXXX, §13, is amended to read:
 
2. Transfer of governing authority.   The regional school unit board of directors, on the date established pursuant to subsection 1, shall assume responsibility for the management and control of the public schools and programs within the school administrative units in existence prior to the operational date of the new regional school unit that are within the regional school unit. Those school administrative units in existence prior to the operational date of the new regional school unit on the date established in subsection 1 have no further responsibility for the operation or control of the public schools and programs within the school administrative unit except those pursuant to section 14811481-A.
Sec. NNNN-3. 20-A MRSA §1481,  as enacted by PL 2007, c. 240, Pt. XXXX, §13, is repealed.
Sec. NNNN-4. 20-A MRSA §1481-A  is enacted to read:
§ 1481-A.  Finances
 
1.  Apportionment of costs for regional school unit.     A regional school unit may raise money, in addition to the local contribution pursuant to section 15690, subsection 1, for establishing and maintaining public schools, erecting buildings and providing equipment for educational purposes. The additional costs of operating a regional school unit must be shared among all municipalities within the regional school unit by the same local share percentages for each municipality resulting from the determination of the local contribution under section 15688.
 
2.  Existing cost-sharing agreement.     Notwithstanding subsection 1, a cost-sharing agreement in existence on June 7, 2007 that was adopted pursuant to Public Law 2005, chapter 2 or pursuant to a private and special law remains in existence unless the parties to the agreement modify or terminate the agreement:
 
A.  As part of a reorganization to regional school units under this chapter; or
 
B.  As a result of a negotiated agreement between the parties to the cost-sharing agreement.
 
3.  Method included in reorganization plan.     Notwithstanding subsection 1, a regional school unit may use a method of cost sharing that was included in a reorganization plan developed pursuant to section 1461 or Public Law 2007, chapter 240, Part XXXX, section 36 as long as the method complies with this subsection.
 
A.  The costs of operating a regional school unit must be shared among all municipalities within the unit in one of the following ways.
 
(1) Under a property valuation method, municipalities in a unit shall share costs in the same proportion as each municipality's property fiscal capacity as defined in section 15672, subsection 23 is to the unit's property fiscal capacity.
 
(2) Under an alternate method of cost sharing, municipalities in a unit shall share costs based on:
 
(a) The number of resident pupils in each town;
 
(b) The property fiscal capacity of each member municipality as defined in section 15672, subsection 23;
 
(c) Any combination of divisions (a) and (b); or
 
(d) Any other factor or combination of factors that may, but need not, include divisions (a) or (b).
 
B.  A process of amending the cost-sharing formula must be included in the reorganization plan developed under this chapter.
Notwithstanding any provision of law to the contrary, a cost-sharing agreement in existence on June 7, 2007 that was adopted pursuant to Public Law 2005, chapter 2 or pursuant to a private and special law may not be construed to preempt the formation of a regional school unit under this chapter. Notwithstanding any provision of law to the contrary, a cost-sharing agreement between 2 or more municipalities in existence on June 7, 2007 that was adopted prior to June 7, 2007 may not be construed to preempt the formation of a regional school unit under this chapter.
Notwithstanding any provision of law to the contrary, a municipality within a regional school unit may raise money and direct the spending of the funds to any school within the regional school unit.’
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
 
SUMMARY
This amendment adds a section to add language to the school funding laws for apportionment costs, cost sharing and the method of cost sharing included in a school reorganization plan developed pursuant to Public Law 2007, chapter 240.