Maine § 20-A §3637 Apportionment of appropriation

Maine Statutes

§ 20-A §3637 — Apportionment of appropriation

Maine·Title 20-A EDUCATION·Part 2 SCHOOL ORGANIZATION·Ch. 121 MAINE-NEW HAMPSHIRE INTERSTATE SCHOOL COMPACT

Subject to the provisions of article VII, the interstate board shall first apply against such appropriation any income to which the interstate district is entitled, and shall then apportion the balance among the member districts in accordance with one of the following formulas as determined by the articles of agreement as amended from time to time:

1.Taxable property. All of such balance to be apportioned on the basis of the ratio that the fair market value of the taxable property in each member district bears to that of the entire interstate district; or

2.Resident membership. All of such balance to be apportioned on the basis that the average daily resident membership for the preceding fiscal year of each member district bears to that of the average daily resident membership of the ent

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Subject to the provisions of article VII, the interstate board shall first apply against such appropriation any income to which the interstate district is entitled, and shall then apportion the balance among the member districts in accordance with one of the following formulas as determined by the articles of agreement as amended from time to time:
1.
Taxable property.
All of such balance to be apportioned on the basis of the ratio that the fair market value of the taxable property in each member district bears to that of the entire interstate district; or
2.
Resident membership.
All of such balance to be apportioned on the basis that the average daily resident membership for the preceding fiscal year of each member district bears to that of the average daily resident membership of the entire interstate school district; or
3.
Combined formula.
A formula based on any combination of the foregoing factors. The term "fair market value of taxable property" shall mean the last locally assessed valuation of a member district in New Hampshire, as last equalized by the New Hampshire state tax commission.

Maine § 20-A §3637 (Apportionment of appropriation) — published by Counsel Stack Legal Research, free access to 12M+ legal documents.