§1611. Limitation on municipal cost component
1. Growth limitation. Except as otherwise provided in this section, the municipal cost component may not exceed the growth limitations established in subsection 2.
[PL 2005, c. 624, §1 (NEW).]
2. Calculation of growth limitations. The growth limitation factors are calculated as follows.
A. The growth limitation factor for the aggregate cost of the municipal cost components provided by the State is the same as the General Fund appropriation limitation factor calculated under Title 5, section 1534, subsection 2. [PL 2005, c. 624, §1 (NEW).]
B. The growth limitation factor for the cost of the municipal cost components provided by a county may not exceed the municipal cost component assessment limit for that county. For purposes of this section, a municipal cost component assessment limit must be determined by the State Tax Assessor annually for the unorganized territory in each county using the criteria provided under Title 30-A, section 5721-A as if the unorganized territory for each county were a municipality. [PL 2005, c. 624, §1 (NEW).]
[PL 2005, c. 624, §1 (NEW).]
3. Exceeding or increasing growth limitations. Growth limitations on the municipal cost component may be exceeded or increased as follows.
A. A governmental body with the authority to approve the county municipal cost component under Title 30-A, chapter 305 may exceed or increase the county growth limitation only if that action is approved by a majority of the county budget committee or county budget advisory committee and the county commissioners. [PL 2005, c. 624, §1 (NEW).]
B. The Legislature may exceed or increase the municipal cost component growth limitation for a state component by including a provision in the municipal cost component legislation enacted pursuant to section 1604 that specifically states the intent of the Legislature to exceed or increase the growth limitation. [PL 2005, c. 624, §1 (NEW).]
[PL 2005, c. 624, §1 (NEW).]
4. Application. This section applies to municipal cost component fiscal years beginning on or after July 1, 2007.
[PL 2005, c. 624, §1 (NEW).]
SECTION HISTORY
PL 2005, c. 624, §1 (NEW).
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