AUGUSTA - The Legislature's Education and Cultural Affairs Committee advanced a bill Thursday from Rep. Raegan LaRochelle, D-Augusta, that would create the Education Fair Share Fund in order to safeguard state funding for public education.
In June 2021, the Maine Legislature passed a bipartisan budget that fulfilled the state's longstanding obligation to fund 55% of K-12 public education costs. Without raising any taxes, LD 1963 would create a stabilization fund that would act as a security net should future administrations fail to meet the 55% funding threshold. By preserving resources for Maine's schools and students, the Education Fair Share Fund would also help municipalities avoid raising property taxes on Maine households and small businesses.
"Our children and grandchildren deserve high-quality education," said LaRochelle. "But for too long, the funding for our schools has relied on property taxes, which has put a major financial strain on families and small businesses throughout the state. My proposal to create the Education Fair Share Fund would protect state funding for our schools in the years to come, and prevent the burden from being put back onto property taxpayers."
Maine voters approved a citizen-initiated referendum calling on the state to fund 55% of the cost of public education in 2004. When the biennial budget was passed into law last year, Maine met this funding responsibility for the first time since the referendum was approved.
The bill to create the Education Fair Share Fund received support from the Maine Education Association and from the Maine School Management Association on behalf of the Maine School Boards Association and the Maine School Superintendents Association.
"We know economies are cyclical boom and bust, bull and bear. We know the historic increases the state is seeing in revenue are unlikely to continue indefinitely," said John Kosinski from the Maine Education Association. "This is exactly why we support LD 1963 to create a stabilization fund for schools, so we can put money aside today to plan for the inevitable dip in revenues in the future."
The measure faces further votes in the House and Senate in the coming weeks.
LaRochelle represents part of Augusta and is serving her first term in the Maine House. She sits on the Innovation, Development, Economic Advancement and Business Committee.
Contact:
Jackie Merrill [LaRochelle] c. 812-1111