5 ME Rev Stat § 1531 (2021)
2021 Maine Revised Statutes|TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES|Part 4: FINANCE|Chapter 142: MAINE BUDGET STABILIZATION FUND|5 §1531. Definitions

 §1531. Definitions As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).]1.  Average population growth.   [PL 2015, c. 267, Pt. L, §2 (RP).] 2.  Average personal income growth.   "Average personal income growth" means the average for the prior 10 calendar years, ending with the most recent calendar year for which data is available, of the percent change in personal income in this State, as estimated by the United States Department of Commerce, Bureau of Economic Analysis. The average personal income growth is determined by October 1st, annually, by the State Economist.   [PL 2021, c. 293, Pt. A, §2 (RPR).] 3.  Baseline General Fund revenue.  "Baseline General Fund revenue" means the recommended General Fund revenue forecast reported by the Revenue Forecasting Committee in its December 1st report of even-numbered years, increased by the net reduction of General Fund revenue, if any, for all enacted changes affecting state and local tax burden since the previous December 1st report of even-numbered years of the Revenue Forecasting Committee.   [PL 2005, c. 621, §2 (AMD).] 4.  Biennial base year appropriation.  "Biennial base year appropriation" means:   A. For the 2018-2019 biennium, the General Fund appropriation enacted for fiscal year 2016-17 as of December 1, 2016; and   [PL 2015, c. 267, Pt. L, §4 (AMD).]B. For subsequent fiscal years, the amount of the General Fund appropriation limitation for the current year as of December 1st of even-numbered years.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).][PL 2015, c. 267, Pt. L, §4 (AMD).] 5.  Commissioner.  "Commissioner" means the Commissioner of Administrative and Financial Services.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).] 6.  Forecasted inflation.   [PL 2015, c. 267, Pt. L, §5 (RP).] 7.  General Fund revenue shortfall.  "General Fund revenue shortfall" means the amount by which the General Fund appropriation limitation established by section 1534 exceeds baseline General Fund revenue and other available resources in each state fiscal year.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).] 8.  Stabilization fund.  "Stabilization fund" means the Maine Budget Stabilization Fund established in this chapter.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).] 9.  State and local tax burden.  "State and local tax burden" means the total amount of state and local taxes paid by Maine residents, per $1,000 of income, as determined annually by the State Tax Assessor based on data from the United States Department of Commerce, Bureau of Census and Bureau of Economic Analysis.   [PL 2005, c. 2, Pt. A, §5 (NEW); PL 2005, c. 2, Pt. A, §14 (AFF).] SECTION HISTORY PL 2005, c. 2, §A5 (NEW). PL 2005, c. 2, §A14 (AFF). PL 2005, c. 621, §§1,2 (AMD). PL 2011, c. 655, Pt. DD, §§1, 2 (AMD). PL 2011, c. 655, Pt. DD, §24 (AFF). PL 2013, c. 368, Pt. Q, §2 (AMD). PL 2015, c. 267, Pt. L, §§2-5 (AMD). PL 2019, c. 343, Pt. D, §2 (AMD). PL 2019, c. 343, Pt. IIII, §1 (AMD). PL 2021, c. 293, Pt. A, §2 (AMD).