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ME LD1103
Bill
AI Summary
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Makes permanent the 9% threshold for school administrative unit unallocated budget balances, which was previously a temporary measure for fiscal years 2021-22 through 2024-25
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Unallocated balances exceeding 9% of the previous fiscal year's school budget must be used to reduce state and local share of total allocation when computing state subsidy
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School boards may carry forward unallocated balances exceeding 9% and disburse these funds over a period not to exceed 3 years
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Removes the previous 5% threshold that would have taken effect after the temporary provisions expired
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Approved by Governor on June 9, 2025 as Public Law Chapter 208
Legislative Description
An Act Regarding Unallocated Balances in a School Administrative Unit School Budget
School Funding Formula
Last Action
PASSED TO BE ENACTED, in concurrence.
6/2/2025