An Act To Provide Tax Relief for Maine's Citizens by Reducing Income Taxes
Maine Legislature, Session 125, LD 0849
Committee Amendment CA_C-SA_B_S440 (Senate)

SENATE AMENDMENT "13 "to COMMITTEE AMENDMENT "C" to S.P. 252, 
L.D. 849, Bill, "An Act To Provide Tax Relief for Maine's Citizens by Reducing Income 
Taxes" 
Amend the amendment by inserting after section 3 the following: 
'Sec. 4. Contingent effective date; certifications. This Act takes effect 30 days 
after the Secretary of State certifies to the Office of the Revisor of Statutes that the bond 
rating for State-issued bonds is within the top 2 rating tiers of the major national bond 
rating agencies; the forecast of revenue for the following fiscal year equals or exceeds 
forecasted expenditures under the Maine Revised Statutes, Title 5, section 1665, 
subsection 7; and the Legislature has appropriated or allocated to the retirement system 
for the fiscal year funds sufficient to meet the requirements of the 23-year amortization 
schedule for the unfunded liability of the retirement system established pursuant to Title 
5, section 17151, subsection 2. 
The Treasurer of State shall certify to the Secretary of State by October 1 st annually 
whether the bond rating for State-issued bonds is within the top 2 rating tiers of the major 
national bond rating agencies. 
The State Budget Officer shall certify to the Secretary of State by October 1st 
annually whether the forecast of revenue for the following fiscal year equals or exceeds 
forecasted expenditures under Title 5, section 1665, subsection 7. 
The Executive Director of the Maine Public Employees Retirement System shall 
certify to the Treasurer of State by October 1st annually whether the Legislature has 
appropriated or allocated to the retirement system for the fiscal year funds sufficient to 
meet the requirements of the 23-year amortization schedule for the unfunded liability of 
the retirement system established pursuant to Title 5, section 17151, subsection 2.' 
SUMMARY 
This amendment establishes a contingent effective date that provides that the Act 
does not take effect until 30 days after the Secretary of State certifies that the bond rating 
for State-issued bonds is within the top 2 rating tiers of the major national bond rating 
agencies; the forecast of revenue for the following fiscal year equals or exceeds 
forecasted expenditures under the Maine Revised Statutes, Title 5, section 1665, 
SENATE AMENDMENT 
,.~~. 
SENATE AMENDMENT "p "to COMMITTEE AMENDMENT "C" to S.P. 252, L.D. 849 
subsection 7; and the Legislature has appropriated or allocated to the retirement system 
for the fiscal year funds sufficient to meet the requirements of the 23-year amortization 
schedule for the unfunded liability of the retirement system established pursuant to Title 
5, section 17151, subsection 2. 
. 
II 0 
SPONSORED BY: ~!l.~ 
(Senator JOHNSON) 
U 
COUNTY: Lincoln 
FISCAL,\tJfE REQUIRED 
(S~~ attached) 
SENATE AMENDMENT 
Approved: 03113112 
;;t;yac. 
LD849 
LR 149(12) 
An Act To Provide Tax Relief for Maine's Citizens by Reducing Income Taxes 
Fiscal Note for Senate Amendment "0" to Committee Amendment "C" 
"5 - +"f () 
Sponsor: Sen. Johnson of Lincoln 
Fiscal Note Required: Yes 
Fiscal Note 
Delayed Implementation 
Fiscal Detail and Notes 
The amendment will alter the effective date for the bill by providing that it does not become effective until the 
following events all occur in the same fiscal year: a) there is either no unfunded actuarial liability or the State is 
certified to be on track to eliminate its unfunded actuarial liability, the State's bond ratings are at AA or higher and the 
revenue forecast for the following year indicates no gap between revenues and expenditures if baseline funding is 
continued. Under current forecasts, no transfers to the Fund are expected through FY 2014-15, so the amendment has 
no fiscal effect during this period. 
LR0149(12) - Fiscal Note - Page 1 of 1