Maine close to approving education cost stabilization fund

AUGUSTA, Maine (AP) — Maine lawmakers are closer to approving a proposal to try to ensure education funding in future years.

The proposal would create the Education Fair Share Fund, which supporters described as a stabilization fund that would serve as a safety net if future administrations don't meet the 55% funding threshold. Backers of the proposal said the state has a longstanding obligation to fund 55% of kindergarten through high school public education costs.

The Maine House of Representatives voted in favor of the proposal from Democratic Rep. Raegan LaRochelle of Augusta on Tuesday by a wide margin. LaRochelle said the initiative “provides greater reliability to districts and municipalities planning their budgets and reduces the burden on taxpayers.”

The proposal will need more votes in the coming weeks.