126th MAINE LEGISLATURE
		LD 962		LR 1223(01)
	An Act To Increase Access to Higher Education
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Chipman of Portland
	Committee: Education and Cultural Affairs
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Current biennium cost increase - General Fund
Fiscal Detail and Notes
	This bill establishes the Maine Merit Scholarship Program with a nonlapsing fund under the jurisdiction and control of the Finance Authority of Maine.  Because this legislation does not identify a source of funding to capitalize and support the fund and establish and administer the program, General Fund appropriations will be required beginning in fiscal year 2013-14.  The Finance Authority of Maine will require General Fund appropriations of $50,000 in fiscal year 2013-14 and $38,000 per year beginning in fiscal year 2014-15 to establish and administer the program.