121st Maine Legislature
		Office of Fiscal and Program Review
		LD 542
		Resolve, To Reduce the State Valuation for the Town of Hermon
		LR0144(01)
		Fiscal Note for Original Bill
		Sponsor: Sen. Mitchell of Penobscot
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
					Projections	Projections
			2003-04	2004-05	2005-06	2006-07
Net Cost (Savings):
	General Fund		$44,256	$0	$0	$0
Appropriations/Allocations
	General Fund		$44,256	$0	$0	$0
Fiscal Detail and Notes
	Based on the Governor's proposed Current Services budget for the 2004-2005 biennium, the General Purpose Aid for Local Schools program within the Department of Education will require an additional General Fund appropriation in fiscal year 2003-04 of $44,256 which would be distributed to the town of Hermon.  This impact is based on the assumption that the subsidy distribution to all other local school units in the State does not change from the distribution calculated for fiscal year 2003-04 based on the Governor's proposed funding level for General Purpose Aid for Local Schools.  If this measure is approved without additional funding, the Statewide Factor in Part C of the Governor's proposed Current Services budget for the 2004-2005 biennium would have to be changed in order to redistribute funds from the other 284 school administrative units in the State to the Town of Herman.  The impact to each local school unit cannot be determined at this time.