126th MAINE LEGISLATURE
LD 510 LR 448(02)
An Act To Ensure Equity in Funding to State Postsecondary Institutions of Higher Learning
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Veterans and Legal Affairs
Fiscal Note Required: Yes
             
Fiscal Note
FY 2013-14 FY 2014-15 Projections  FY 2015-16 Projections  FY 2016-17
Appropriations/Allocations
Other Special Revenue Funds $0 $0 $0 $0
Fiscal Detail and Notes
Calculation of impact to the University of Maine System and Maine Maritime Academy is provided below.  Estimates assume slot machine revenue income based on December 2012 Revenue Forecast and stable enrollment levels at both the University of Maine and Maine Maritime Academy.
Calculation of Distribution of University of Maine Share of Net Slot Machine Income
Fall 2012 Enrollment  Students % of Total
UMS        26,764 96.53%
MMA            963 3.47%
Total        27,727 100.00%
Source of Revenue FY 2013-14 FY 2014-15   FY 2015-16  FY 2016-17
Hollywood Casino  $    989,317  $  1,000,222  $    1,010,224  $   1,020,326
Oxford Casino  $  2,013,918  $  2,034,057  $    2,054,398  $   2,074,942
Current law - UMS 100%  $  3,003,235  $  3,034,279  $    3,064,622  $   3,095,268
After Impact of LD 510
UMS 96.53%  $  2,898,928  $  2,928,894  $    2,958,183  $   2,987,765
MMA 3.47%  $    104,307  $    105,385  $      106,439  $     107,503
 $  3,003,235  $  3,034,279  $    3,064,622  $   3,095,268
Incremental Impact of LD 510
UMS -3.47%  $   (104,307)  $   (105,385)  $     (106,439)  $    (107,503)
MMA 3.47%  $    104,307  $    105,385  $      106,439  $     107,503
$0 $0 $0 $0