Sec. FF-1. 20-A MRSA §15602, sub-§17 is enacted to read:
17. Curtailment. The following curtailment is established for fiscal year 2002-03.
A. An amount equal to $10,000,000 must be reduced from the following components of general purpose aid to local schools:
(1) The state share of the adjusted debt service allocation component must be reduced by $2,000,000;
(2) The state share of the adjustments and miscellaneous costs component must be reduced by $680,096, resulting in a 1.37% reduction for each of the categories in this component; and
(3) The state share of the foundation component including minimum subsidy must be reduced by $7,319,904 by a method that preserves the equalizing intent of the original distribution.
B. The method of curtailment for the foundation component including minimum subsidy must be calculated as follows.
(1) The state share of each school administrative unit's curtailment amount must equal each school administrative unit's state share of the foundation plus minimum subsidy multiplied by the unit's local share percentage, as determined by the School Finance Act of 1995, and this amount must be prorated so that the statewide sum of all the foundation and minimum subsidy curtailment does not exceed $7,319,904.
(2) The foundation plus minimum subsidy curtailment amount for each school administrative unit may not exceed the total state share of foundation plus minimum subsidy for that unit.
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