123rd MAINE LEGISLATURE
		LD 1064		LR 5(02)
	An Act To Increase Funding To Support Research and Development in the University of Maine System
	Fiscal Note for Bill as Amended by Committee Amendment "     "
	Committee: Business, Research and Economic Development
	Fiscal Note Required: Yes
Fiscal Note
			2007-08	2008-09	Projections 2009-10	Projections 2010-11
Net Cost (Savings)
	General Fund		$0	$15,881,800	$23,022,239	$30,761,462
Appropriations/Allocations
	General Fund		$0	$15,881,800	$23,022,239	$30,761,462
Fiscal Detail and Notes
	This bill includes a General Fund appropriation of $15,881,800 to the Maine Economic Improvement Fund within the University of Maine System in fiscal year 2008-09 in order to provide the required increase in funding until the funding level for the program reaches 3% of General Fund revenues, anticipated to be in fiscal year 2018-19.  The estimates in this fiscal note are based on the May 2007 revenue projections developed by the Revenue Forecasting Committee and the General Fund appropriation for fiscal year 2008-09 provided in LD 499, the 2008-2009 biennial budget, as enacted by the Legislature on June 6, 2007.