Sec. 1. 20-A MRSA cc. 606 and 606-A, as amended, are repealed.

Sec. 2. 20-A MRSA c. 606-B is repealed.

Sec. 3. 20-A MRSA c. 606-C is enacted to read:

CHAPTER 606-C

SCHOOL FINANCE ACT OF 2003

§15681.__Short title

This chapter is known and may be cited as "the School Finance Act of 2003."

§15682.__General purpose aid to local schools

1.__Contributions from the state General Fund.__Prior to February 15th of each year, the Legislature shall determine the amount of general purpose aid that the State shall provide to school administrative units in the State to subsidize the costs of providing kindergarten to grade 12 public education.

2.__Per pupil allocation.__Prior to March 1st of each year, the Legislature shall determine the per pupil allocation amount that the State shall provide to each student in the State, regardless of where the student resides.

3.__Pupil counts.__The pupil count used for each school administrative unit's calculation is the sum of the average of the April 1st and October 1st counts in the most recent calendar year of all resident elementary and secondary pupils of the unit.

4.__General purpose aid computations.__The amount of general purpose aid allocated to a local school administrative unit is equal to the per pupil allocation amount multiplied by the pupil count.

§15683.__Authorization and schedules of payment of state general

purpose aid; appeals; limitations

1.__Schedules of payment of unit allocation.__The commissioner shall authorize state general purpose aid payments to the school administrative units to be made in accordance with time schedules set forth in section 15005, sections 15901 to 15910 and Title 20, sections 3457 to 3460.