121st Maine Legislature
		Office of Fiscal and Program Review
		LD 400
		An Act to Promote Student Aspirations through Higher Education Scholarships
		LR 1030(01)
		Fiscal Note for Original Bill
		Sponsor: Sen. Brennan
		Committee: Appropriations and Financial Affairs
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings):
	General Fund		$2,500,000	$5,000,000	$0	$0
Appropriations/Allocations
	General Fund		$2,500,000	$5,000,000	$0	$0
Fiscal Detail and Notes
	The Finance Authority of Maine may require additional General Fund appropriations to administer the program.  The cost to the Finance Authority of Maine will depend on the specific details of how the program is to be administered.  If the intent of the legislation is for the funds to be disbursed using the Authority's existing delivery system for the Maine State Grant Program, then the Authority would be able to administer the program within existing resources.  If the intent of the legislation is for the Authority to create a new disbursement system, then the additional cost to the Finance Authority of Maine would include $50,000 in one-time start-up costs and approximately $7,500 annually for administrative costs.