130th MAINE LEGISLATURE
		LD 1517		LR 1975(01)
	An Act To Establish the Maine Workforce, Research, Development and Student Achievement Institute
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Curry of Waldo
	Committee: Innovation, Development, Economic Advancement and Business
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Legislative Cost/Study
			FY 2021-22	FY 2022-23	Projections  FY 2023-24	Projections  FY 2024-25
Net Cost (Savings)
	General Fund		$250,390	$250,390	$250,394	$250,397
Appropriations/Allocations
	General Fund		$250,390	$250,390	$250,394	$250,397
Legislative Cost/Study
	The Legislature will require ongoing General Fund appropriations of $390 in fiscal year 2021-22 and $390 in fiscal year 2022-23 for the costs of the required participation of a Legislator on the steering committee of the newly created Maine Workforce, Research, Development and Student Achievement Institute.
Fiscal Detail and Notes
	The University of Maine System has estimated the cost of establishing the Maine Workforce, Research, Development and Student Achievement Institute to advise the Legislature on matters related to workforce training, research and development, student debt and economic advancement in the State to be approximately $250,000 per year.  This estimate assumes the institute conducts between 6 and 8 studies annually.
	Additional costs to the Department of Labor, the Maine Community College System and the Finance Authority of Maine to serve on the steering committee can be absorbed within existing budgeted resources.