| 125th MAINE LEGISLATURE | ||||||
| LD 817 | LR 1383(01) | |||||
| An Act To Stabilize Short-term Funding of Public Kindergarten to Grade 12 Education | ||||||
| Preliminary Fiscal Impact Statement for Original Bill | ||||||
| Sponsor: Rep. Dow of Waldoboro | ||||||
| Committee: Education and Cultural Affairs | ||||||
| Fiscal Note Required: Yes | ||||||
| Preliminary Fiscal Impact Statement | ||||||
| FY 2011-12 | FY 2012-13 | Projections FY 2013-14 | Projections FY 2014-15 | |||
| Net Cost (Savings) | ||||||
| General Fund | ($178,127,110) | ($161,058,574) | ($143,350,184) | $0 | ||
| Appropriations/Allocations | ||||||
| General Fund | ($178,127,110) | ($161,058,574) | ($143,350,184) | $0 | ||
| Fiscal Detail and Notes | ||||||
| This legislation reduces the State's share of the cost of K-12 public education by $178,127,110 in fiscal year 2011-12 and $161,058,574 in fiscal year 2012-13 funded through General Fund appropriations to the General Purpose Aid for Local Schools program within the Department of Education. These estimates are based on the assumptions included in the table below. LD 1043, the Governor's proposed biennial budget for the 2012-2013 biennium, includes changes which may affect this bill's impact on the General Purpose Aid for Local Schools program. This estimate may need to be adjusted based on final legislative actions on the biennial budget. | ||||||
| Fiscal Year | Fiscal Year | |||||
| 2011-12 | 2012-13 | |||||
| State and Local expenditures 1 | $ 1,979,190,108 | $ 2,013,232,178 | ||||
| Current Law - State share (%) | 55% | 55% | ||||
| LD 817 - Proposed State share (%) | 46% | 47% | ||||
| Current Law - State share ($) | $ 1,088,554,559 | $ 1,107,277,698 | ||||
| LD 817 - State share ($) | $ 910,427,450 | $ 946,219,124 | ||||
| Current Law - Local share ($) | $ 890,635,549 | $ 905,954,480 | ||||
| LD 817 - Local share ($) | $ 1,068,762,658 | $ 1,067,013,054 | ||||
| Total General Fund cost (savings) | $ (178,127,110) | $ (161,058,574) | ||||
| Total local share cost (savings) | $ 178,127,110 | $ 161,058,574 | ||||
| 1 Based on fiscal year 2011-12 Total Cost of Funding Public Education from Kindergarten to Grade 12 prepared by the Department of Education, increased by Real Personal Income growth of 1.72% per year per Title 20-A, §15671. | ||||||