United States — Maine Act or statute

United States — Maine legislation

Maine Revised Statutes, Title 20-A, § 8464: Budget failure, 1981

The following applies in the event of a budget failure as defined in section 8301‐A. [PL 1991, c. 518, §29 (AMD).] 1. Submission of a contingency plan. If a budget failure exists after August 1st…

borrowingbudget contingencyprogram reorganizationstate subsidy

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“The following applies in the event of a budget failure as defined in section 8301‐A. [PL 1991, c. 518, §29 (AMD).] 1. Submission of a contingency plan. If a budget failure exists after August 1st of any fiscal year, the cooperative board”

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    Enacted 1981 · Source version 1 Oct 2025. The date shown identifies this source expression and should not be treated as proof that no later change exists.

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Budget failure

The following applies in the event of a budget failure as defined in section 8301‐A. [PL 1991, c. 518, §29 (AMD).] 1. Submission of a contingency plan. If a budget failure exists after August 1st of any fiscal year, the cooperative board

Section 8464

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Source record from legislature.maine.gov · Enacted 1981 · Source version 1 Oct 2025

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§ 8464Budget failureProvision

The following applies in the event of a budget failure as defined in section 8301‑A. [PL 1991, c. 518, §29 (AMD).] 1. Submission of a contingency plan. If a budget failure exists after August 1st of any fiscal year, the cooperative board

The following applies in the event of a budget failure as defined in section 8301‑A. [PL 1991, c. 518, §29 (AMD).] 1. Submission of a contingency plan. If a budget failure exists after August 1st of any fiscal year, the cooperative board shall submit to the state board a financial statement with an operational plan indicating how the cooperative board intends to reorganize or terminate the region's career and technical education programs. [PL 1991, c. 518, §29 (AMD); PL 2005, c. 397, Pt. D, §3 (REV).] 2. Payment of the state subsidy to the cooperative board. If a budget failure exists, the State shall pay directly to the cooperative board each unit's state subsidy for career and technical education within the region. [PL 1991, c. 518, §29 (AMD); PL 2005, c. 397, Pt. D, §3 (REV).] 3. Expenditure of available funds. If a budget failure exists after June 30th, the cooperative board may expend balances and available revenues until the region is reorganized or terminated or until a budget is approved pursuant to this chapter. [PL 1991, c. 518, §29 (AMD).] 4. Anticipatory borrowing. The cooperative board may borrow funds not to exceed 50% of the state subsidy anticipated to be received in the fiscal year by units in the region. Such borrowing must be repaid within the same fiscal year. [PL 1991, c. 518, §29 (AMD).]
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