Budget Cycle

Governor Submits Budget

Fiscal Year Begins
July 1 

Governor Signs Budget 
10 days after legislative approval

Budget Links

FY2024-2025 supplemental (propsoed)
FY2024-2025 (enacted)
FY2022-2023 supplemental (enacted)
FY2022-2023 (enacted)
FY2020-2021 supplemental (enacted)
FY2020-2021 (enacted)

Enacted Budget – Fiscal Years 2024-2025 

Maine Governor Janet Mills signed the state’s current services budget for fiscal 2024-2025 into law on March 31, 2023, to ensure continued operations of state government, providing for $9.8 billion in general fund spending. She called the legislature back into session to consider further budget investments, and subsequently, the governor signed an additional $445 million budget on July 11, 2023. With these amendments, the biennial budget totals $10.3 billion in general fund appropriations. According to a legislative staff summary, the biennial budget, after amendments, provides for general fund appropriations of $5.08 billion in fiscal 2024 and $5.26 billion in fiscal 2025, representing annual increases of 14.1 percent and 3.6 percent respectively. The budget is based on revenue projections of $5.21 billion in fiscal 2024 (a 1.1 percent decrease from fiscal 2023) and $5.36 billion in fiscal 2025 (a 3.0 percent increase), including May 2023 forecast upward revisions. After enacted revenue changes and transfers, the budget assumes projected revenue of $5.03 billion in fiscal 2024 and $5.18 billion in fiscal 2025. The biennial budget estimates a beginning general fund balance of $165.0 billion and a balance at the end of the biennium of $39.2 billion. The budget maintains the rainy day fund balance at a record high level of nearly $900 million. The budget establishes a paid family and medical leave program and creates a modernized business incentive program. It also makes historic investments in housing – including rural affordable rental housing and emergency housing – and child care – including enhancing the state’s Dependent Exemption Tax Credit, expanding eligibility for child care affordability program, and increasing child care worker salary stipends. Other budget highlights include extending free community college, pension tax relief and other support for retirees, one-time funding to strengthen emergency medical services, and both ongoing and one-time resources to strengthen delivery of legal services.

Proposed Budget - Fiscal Years 2024-2025

On January 11, 2023, Maine Governor Janet Mills released a biennial budget covering fiscal 2024 and 2025. The budget recommends general fund appropriations of $10.3 billion over the next biennium, an 18.5 percent increase over appropriated levels for the fiscal 2022-2023 biennium through the Second Regular Session of the 130th legislature. The budget includes $9.4 billion to cover baseline spending, $55 million for new one-time spending on capital and other one-time uses, and $805 million to cover the annualized costs for full implementation of authorized programs and activities over the biennium as well as new initiatives and positions. On an annual basis, the budget recommendation calls for general fund appropriations of $5.1 billion in fiscal 2024 and $5.2 billion in fiscal 2025, reflecting annual spending increases of 13.9 percent and 2.9 percent, respectively. The general fund budget is based on a general fund revenue forecast of $5.2 billion in fiscal 2024 and $5.3 billion in fiscal 2025, reflecting projected annual growth of 2.8 percent in fiscal 2024 and 2.7 percent in fiscal 2025. After transfers and other adjustments, the budget projects a general fund ending balance in fiscal 2025 of $6 million. The governor’s budget plans to maintain the Budget Stabilization (“rainy day”) fund at a record high of $900 million, 17.8 percent of recommended general fund spending for fiscal 2024. The governor also presented a supplemental budget to send one-time payments to hospitals and long-term care facilities as well as other initiatives. Additionally, the biennial budget outlines recommended revenues and allocations for the state’s Highway Fund and Fund for a Healthy Maine (a dedicated fund that primarily receives tobacco settlement payments).

Proposed Budget Highlights 

The governor’s budget for the fiscal 2024-2025 biennium calls for investing in infrastructure that supports the people of Maine, including education and childcare, healthcare, housing, and transportation. The proposal would also maintain municipal revenue sharing and provide enhanced property tax relief, as well as make investments in environmental protection. Some of the initiatives proposed by the governor in these priority areas include:

    Education and Childcare

    • $101 million increase in K-12 spending to continue covering 55 percent of local education costs
    • $58 million to fully fund universal free meals
    • $11 million to expand access to preschool
    • $8 million to fully fund salary supplements for child care workers
    • $15 million to continue providing two years of free community college to all graduating high school students
    • $41 million to provide a 4.5 percent increase in operating support for higher education institutions.
    • $10 million to increase the state’s need-based financial aid program maximum award



    • $94 million in state funds and $143 million federal to support mental health and substance abuse services, including direct response to the opioid crisis
    • $78 million in state funds and $91 million federal to expand and improve long-term care and home-and community-based services for the elderly
    • $27 million in state funds and $57 million federal to improve access to disability services
    • $15 million for foster care and adoption assistance
    • Additional funds for hospital rate reform and student loan repayment assistance for health care workers


    Transportation and Housing

    • $400 million to repair the state’s multimodal infrastructure system to match up to $1 billion in federal funds under the Bipartisan Infrastructure Law
    • $30 million to expand affordable rental housing for workers


    Property Tax Relief

    • $46 million to fund a law to freeze property taxes for senior citizens
    • $17 million to increase state reimbursement to municipalities under the homestead exemption



    • $3 million for climate-focused grants and other programs to help communities plan for climate change and reduce emissions
    • $6 million in state and federal funds to detect and mitigate the impact of PFAS