An Act To Provide Funding to the Maine Budget Stabilization Fund
Maine Legislature, Session 127, LD 1606
Committee Amendment CA_B_S465 (Senate)

COMMITTEE AMENDMENT " _B" to S.P. 647, L.D. 1606, Bill, "An Act To 
Provide Funding to the Maine Budget Stabilization Fund" 
Amend the bill in section 1 in the 2nd line (page 1, line 16 in L.D.) by striking out the 
following: "$67,292,995" and inserting the following: '$55,500,000' 
Amend the bill by striking out all of section 2 and inserting the following: 
'Sec. 2. Transfer to Maine Budget Stabilization Fund; other distributions 
for fiscal year 2015-16. Notwithstanding the Maine Revised Statues, Title 5, sections 
1507, 1511, 1519 and 1536, the State Controller shall transfer, at the close of fiscal year 
2015-16 from the unappropriated surplus of the General Fund, an amount equal to the 
amount available from the unappropriated surplus after all required deductions of 
appropriations, budgeted financial commitments and adjustments considered necessary 
by the State Controller have been made, as follows: 
1. As the first priority, 90% to the Maine Budget Stabilization Fund established in 
the Maine Revised Statutes, Title 5, section 1532; 
2. As the 2nd priority, the following transfers must be made in the following priority: 
A. First, an amount up to $350,000 to the State Contingent Account pursuant to Title 
5, section 1507; 
B. Second, an amount up to $1,000,000 to the Loan Insurance Reserve pursuant to 
Title 5, section 1511; 
C. Third, an amount up to $2,500,000 to the Reserve for General Fund Operating 
Capital; and 
D. Fourth, an amount up to $4,000,000 to the Retiree Health Insurance Internal 
Service Fund, pursuant to section 1519; and 
3. As a 3rd priority, if any funds remain after the transfers pursuant to subsections 1 
and 2, 80% of the remaining funds must be transferred to the Maine Budget Stabilization 
Fund and 20% of the remaining funds must be transferred to the Tax Relief Fund for 
Maine Residents established in section 1518-A.' 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" 
"to S.P. 647, L.D. 1606 
SUMMARY 
This amendment is the minority report of the committee. This amendment reduces 
the amount of the unappropriated surplus transferred to the Maine Budget Stabilization 
Fund in fiscal year 2015-16 to $55,500,000 and eliminates the transfer in fiscal year 
2016-17. This amendment also establishes a priority for the transfer of the uncommitted 
balances after all required deductions of appropriations, budgeted financial commitments 
and adjustments considered necessary by the State Controller have been made in fiscal 
year 2015-16. The first priority is that 90% of the unappropriated surplus is transferred to 
the Maine Budget Stabilization Fund; the remaining 10% is distributed on a priority basis 
in the same manner as specified in the so-called cascade established in the Maine Revised 
Statutes, Title 5, section 1536, including requiring 80% of the funds remaining after those 
distributions to be transferred to the Maine Budget Stabilization Fund and 20% 
transferred to the Tax Relief Fund for Maine Residents. 
FISCAL NOTE REQUlRED 
(See Attachedj 
COMMITTEE AMENDMENT 
Net Cost (Savings) 
General Fund 
Transfers 
General Fund 
Fiscal Detail and Notes 
Approved: 04/04/16 
.:Wac.. 
LD 1606 
LR 2716(03) 
An Act To Provide Funding to the Maine Budget Stabilization Fund 
Fiscal Note for Bill as Amended by Committee Amendment ''5 (.5 _ L\65"j 
Committee: Appropriations and Financial Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2015-16 
FY 2016-17 
Projections 
FY2017-18 
Projections 
FY 2018-19 
$55,500,000 
$0 
$0 
$0 
($55,500,000) 
$0 
$0 
$0 
This bill transfers $55,500,000 in fiscal year 2015-16 from the unappropriated surplus of the General Fund to the 
Maine Budget Stabilization Fund and makes changes to the year-end distribution from the unappropriated surplus of 
the General Fund (the so-called cascade) for fiscal year 2015-16. 
LR2716(03) - Fiscal Note - Page I of I