121st Maine Legislature
		Office of Fiscal and Program Review
		LD 542
		Resolve, To Reduce the State Valuation for the Town of Herman
		LR 0144(02)
		Fiscal Note for Bill as Amended by Committee Amendment " "
		Committee: Taxation
		Fiscal Note Required: Yes
Fiscal Note
No Net Fiscal Impact - General Fund
Fiscal Detail and Notes
	Based on the 2003 State Valuation, this legislation will increase the amount of General Purpose Aid for Local Schools subsidy that the town of Herman receives by $35,784 in fiscal year 2003-04.  Since this legislation requires the Department of Education to fund the increase through savings that may occur in the General Purpose Aid for Local Schools program in fiscal year 2003-04 or as an audit adjustment in the program in fiscal year 2004-05, no additional General Fund appropriation is required.  However, if an audit adjustment is required in fiscal year 2004-05, it will reduce the amount of subsidy available for distribution to all other local school units in the State.  The impact to each individual school unit can not be determined at this time.