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Amend the amendment by inserting after Part SSSS the following:
PART TTTT
‘
Sec. TTTT-1. 20-A MRSA §15672, sub-§23, ¶C, as enacted by PL 2013, c. 203, §1, is repealed and the following enacted in its place:
 
C.  For fiscal year 2015-16 and each subsequent fiscal year:
 
(1) The average of the certified state valuations for the 3 most recent years prior to the most recently certified state valuation; or
 
(2) If an adjustment has been approved by the State Tax Assessor pursuant to Title 36, section 208-A, that adjusted state valuation.
Sec. TTTT-2. Modify 2015 state valuations and state-municipal revenue sharing; Madison; Skowhegan; East Millinocket; Jay. Notwithstanding the Maine Revised Statutes, Title 30-A, section 5681 and Title 36, sections 208-A and 305, the Treasurer of State shall use the following figures for state-municipal revenue sharing for fiscal year 2015-16: for the Town of Madison, the 2015 state valuation is deemed to be $349,850,000; for the Town of Skowhegan, the 2015 state valuation is deemed to be $1,003,800,000; for the Town of East Millinocket, the 2015 state valuation is deemed to be $70,900,000; and for the Town of Jay, the 2015 state valuation is deemed to be $801,950,000.
Sec. TTTT-3. Modify state valuations; education funding; Madison. Notwithstanding the Maine Revised Statutes, Title 20-A, section 15672, subsection 23, paragraph C and Title 36, sections 208-A and 305, for the purpose of calculating property fiscal capacity for education funding under Title 20-A for fiscal years 2015-16 to 2018-19, the Commissioner of Education shall use the following figures for the Town of Madison: the 2015 state valuation is deemed to be $349,850,000; the 2014 state valuation is deemed to be $356,600,000; the 2013 state valuation is deemed to be $355,750,000; and the 2012 state valuation is deemed to be $361,450,000.
Sec. TTTT-4. Modify state valuations; education funding; Skowhegan. Notwithstanding the Maine Revised Statutes, Title 20-A, section 15672, subsection 23, paragraph C and Title 36, sections 208-A and 305, for the purpose of calculating property fiscal capacity for education funding under Title 20-A for fiscal years 2015-16 to 2018-19, the Commissioner of Education shall use the following figures for the Town of Skowhegan: the 2015 state valuation is deemed to be $1,003,800,000; the 2014 state valuation is deemed to be $995,550,000; the 2013 state valuation is deemed to be $996,200,000; and the 2012 state valuation is deemed to be $991,900,000.
Sec. TTTT-5. Modify state valuations; education funding; East Millinocket. Notwithstanding the Maine Revised Statutes, Title 20-A, section 15672, subsection 23, paragraph C and Title 36, sections 208-A and 305, for the purpose of calculating property fiscal capacity for education funding under Title 20-A for fiscal years 2015-16 to 2018-19, the Commissioner of Education shall use the following figures for the Town of East Millinocket: the 2015 state valuation is deemed to be $70,900,000; the 2014 state valuation is deemed to be $77,250,000; the 2013 state valuation is deemed to be $79,600,000; and the 2012 state valuation is deemed to be $102,150,000.
Sec. TTTT-6. Modify state valuations; education funding; Jay. Notwithstanding the Maine Revised Statutes, Title 20-A, section 15672, subsection 23, paragraph C and Title 36, sections 208-A and 305, for the purpose of calculating property fiscal capacity for education funding under Title 20-A for fiscal years 2015-16 to 2018-19, the Commissioner of Education shall use the following figures for the Town of Jay: the 2015 state valuation is deemed to be $801,950,000; the 2014 state valuation is deemed to be $818,954,890; the 2013 state valuation is deemed to be $804,454,890; and the 2012 state valuation is deemed to be $792,554,890.’
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or section number to read consecutively.
 
SUMMARY
This amendment provides that, for fiscal year 2015-16 and beyond, in the event a municipality is approved for an adjustment to its state property valuation due to a sudden and severe disruption in its municipal valuation, that adjusted state valuation is the property fiscal capacity for purposes of determining municipal contributions under the school funding formula.
This amendment also establishes adjustments to state valuations for the towns of Madison, Skowhegan, East Millinocket and Jay for the purposes of state-municipal revenue sharing and education funding to reflect the effect of significant losses in valuation of major taxpayers due to declines in the paper industry.
FISCAL NOTE REQUIRED
(See attached)