Source: http://www.mainelegislature.org/ros/LOM/LOM122nd/5Pub151-200/Pub151-200-40.htm
Timestamp: 2013-05-19 02:02:22
Document Index: 318968783

Matched Legal Cases: ['§372', '§1', '§1', '§374', '§3', '§6', '§374', '§4', '§2', '§374', '§4', '§375', '§1', '§2', '§376', '§3', '§2', '§377', '§3', '§377']

S.P. 447 - L.D. 1267
An Act To Extend the Kim Wallace Adaptive Equipment Loan Program
Whereas, unless this legislation is enacted as an emergency measure, loans to persons with disabilities for transportation assistance will no longer be available under the Kim Wallace Adaptive Equipment Loan Program Fund; and
Sec. 1. 10 MRSA §372, §1, as amended by PL 2003, c. 99, §1, is further amended to read:
1. Creation of fund. There is established the Kim Wallace Adaptive Equipment Loan Program Fund, which must be used to provide funding for loans to qualified borrowers within the State in order to acquire adaptive equipment designed to assist the borrower in becoming independent and for other purposes as allowed under section 376. The fund must be deposited with, maintained and administered by the Finance Authority of Maine or other state agency and contain appropriations provided for that purpose, interest accrued on the fund balance, funds received by the board to be applied to the fund and funds received in repayment of loans. This fund is a nonlapsing revolving fund. All money in the fund must be continuously applied to carry out the purposes of this chapter.
Sec. 2. 10 MRSA §374, sub-§3, as amended by PL 1999, c. 731, Pt. FF, §6, is further amended to read:
3. Administer loan program. The board shall administer the Kim Wallace Adaptive Equipment Loan Program Fund established by this chapter and may contract with the Finance Authority of Maine and state or community-based groups dealing with disabled persons for such assistance in administering the program as the board may require. The board may employ persons, including private legal counsel and financial experts, on either a temporary or permanent basis, in order to carry out any of its powers and duties. Employees of the board are not subject to Title 5, chapter 71 and Title 5, chapter 372, subchapter 2.
Sec. 3. 10 MRSA §374, sub-§4, ¶C, as enacted by PL 1997, c. 489, §2, is repealed.
Sec. 4. 10 MRSA §374, sub-§4, ¶D is enacted to read:
D. Loan applications may be approved or denied by the board only at a regular or special meeting except as follows:
(1) Approval of applications for loans may be delegated by the board to a subcommittee of the board containing at least 5 members if an applicant would suffer undue hardship by waiting for the next regular meeting; or
(2) Approval of applications for loans may be delegated to outside contractors with criteria and terms as provided by the board and approved no less than annually.
All approved loans must be ratified by the board at the board's next regular or special meeting. All loans recommended for denial by the delegated authority must be acted upon by the board at the board's next regular or special meeting.
Sec. 5. 10 MRSA §375, sub-§1, as enacted by PL 1987, c. 817, §2, is amended to read:
1. Demonstration of purpose of loan. The board may enter into loan agreements with any qualifying borrower, who and exercise all powers of a lender or creditor. Loan security may include the acquisition, use, management, improvement or disposition of any interest in, or type of, real or personal property, including grant, purchase, sale, borrow, loan, lease, foreclosure, mortgage, assignment or other lawful means, with or without public bidding and also including the assessment of fees, the forgiveness of indebtedness, the receipt of reimbursements for expenses incurred in carrying out its purposes and the expenditure or investment of its funds. The borrower must demonstrate that:
A. The loan will assist one or more persons with disabilities to improve their independence or become more productive members of the community; and B. The applicant has the ability to repay the loan. Sec. 6. 10 MRSA §376, sub-§3, as enacted by PL 2003, c. 99, §2, is amended to read:
3. Transportation assistance. For the purpose set forth in section 377, subject to the limitations set forth in that section. This subsection is repealed June 30, 2005.
Sec. 7. 10 MRSA §377, as enacted by PL 2003, c. 99, §3, is amended to read:
§377. Loans for transportation assistance program
The board may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment training, subject to the following limitations. 1. Qualifications of borrower. A loan may be made under this section only to a qualifying borrower who meets the other requirements of this chapter and who demonstrates a need for a vehicle as part of an individualized plan toward employment developed with a state or community-based organization that provides employment services to persons with disabilities and that is approved by the board.
2. Limitation on loan amount. Loans made under this section may not exceed $7,000 per qualifying borrower.
3. Aggregate amount of loans. The maximum aggregate amount of loans made issued under this section may not exceed $250,000 in fiscal year 2003-04 and $250,000 in fiscal year 2004-05 7% of the value of program gross notes receivable.
4. Repeal. This section is repealed June 30, 2005.