An Act to Promote Economic Growth by Retaining Engineers in Maine LR 1189(04)
Maine Legislature, Session 121, LD 0993
Committee Amendment CA_B_S553 (Senate)

COMMITTEE AMENDMENT "b" to S.P. 334, L.D. 993, Bill, "An 
Act To Promote Economic Growth by Retaining Engineers in Maine" 
Amend 
the bill 
in 
section 
in that part designated 
"§12521." by striking out all of subsections 1 to 6 (page 1, 
lines 
to 
in L .D. ) 
and inserting in their place the 
following: 
'1. 
Authority. 
"Authority" means the Finance Authority of 
Maine. 
• 
Chief executive officer. 
"Chief 
executive officer" 
means the Chief Executive Officer of the Finance Authority of 
Maine. 
3. 
Eligible emplqyer. 
"Eligible employer" means a business 
in the State that employs engineers and that demonstrates a need 
to fill an eligible employment position. 
4. 
Eligible 
em.el~nt position. 
"Eligible 
employment 
position" 
means 
a 
full-time position of 
employment with 
an 
employer located in this State, 
a 
reguirement of which is a 
bachelor'S degree in an engineering discipline. 
5. 
Eligible individual. 
"Eligible individual" 
means 
a 
person who: 
Page l-LR1l89(4) 
COMMITTEE AMENDMENT 
.... j~. 
COMMITTEE AMENDMENT "B" to S.P. 334, L.D. 993 
A. Holds a bachelor's degree from a college of engineering 
within the University of Maine System; or 
B. 
Received a high school diploma, or its equivalent. in 
this State and holds a bachelor I s degree from a college of 
engineering in a state other than this State. 
6. 
Program. 
"Program" 
means 
the 
Maine 
Engineers 
Recruitment and Retention Program established in section 12522.' 
Further amend the bill in section 1 by striking out all of 
that part designated "§12522." and inserting in its place the 
following: 
'§12522. 
Maine EDgineers Recruitment and Retention Program 
The Maine Engineers Recruitment and Retention Program is 
established to provide assistance to eligible employers seeking 
to recruit engineers for full-time employment in this State by 
providing financial assistance to eligible individuals who fill 
such positions.' 
Further amend the bill in section 1 by striking out all of 
those parts designated "§12524. II and "§12525." and inserting in 
their place the following: 
, §12524. 
Loan repa.pent agreement application 
Beginning July 1, 2007, an eligible employer seeking to fill 
an eligible employment position with an eligible individual who 
has outstanding student loans 
from financial institutions may 
apply on behalf of that individual to obtain one or more program 
loan repayment agreements under section 12526. 
Applications "must 
be submitted to the authority at a time and in a format to be 
determined by the authority. 
§12525. 
Jla][imum lOan repa,paent: participation 
The maximum program loan repayment amount available to each 
eligible individual, excluding the employer's match under section 
12526, is $2,500 per year, for a maximum of 4 years. 
No more 
than 10 program loan repayment agreements may be awarded in any 
year. 
The authority may not award more than 40'\ of the program 
loan repayment agreements in anyone year to individuals who are 
eligible under the provisions of section 12521. subsection 5, 
paragraph B. I 
Further amend the bill in section 1 in that part designated 
"§12526." by striking out all of subsection 2 (page 3, lines 10 
to 13 in L.D.) and inserting in its place the following: 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT "6,, to S.P. 334, L.D. 993 
'2. 
Matching funds. 
An eligible employer must provide 
funds to match the amount provided by the authority for program 
loan repayments under this section. 
The employer's match must be 
paid to the authori ty for payment to the financial institution 
holding the employee's student loan and must be in an amount 
equal to the amount of the program loan repayment to be provided 
by the authority.' 
Further amend the bill in section 1 by striking out all of 
that part designated "§12527. II and inserting in its place the 
following: 
'§12527. 
P~nt provisions 
The authority shall enter into a program loan repayment 
agreement with an eligible individual on terms and conditions 
that are acceptable to the authority and that at a minimum must 
require the eligible individual and the eligible individual's 
employer to certify annually. before payment of any installment 
by the authority under the program loan agreement. 
that the 
eligible individual has been employed in an eligible employment 
position for 
the preceding l2-month period. 
Payment of any 
installment by the authority. including matching funds provided 
to the authority by the employer. must be made directly for 
credit to the eligible individual's account at the financial 
institution certified by the eligible individual as responsible 
for administration of that person's student loans.' 
SUMMARY 
The bill proposed to provide a mechanism for repayment of 
student loans for persons who receive an engineering degree from 
the University of Maine System and who are employed full-time in 
an engineering position in this State. 
This 
amendment 
expands 
the 
eligibility for 
those 
loan 
repayments to allow up to 40~ of the loan repayment awards to go 
to persons who received a high school diploma, or its equivalent, 
in this State and who hold a bachelor's degree from a college of 
engineering in a state other than this State but who returned to 
work in this State full-time in an engineering position. 
The amendment also clarifies that loan repayments do not 
begin until July 1, 2007 and that the matching funds paid by the 
employer must be paid to the Finance Authority of Maine for 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" f)" to S.P. 334, L.D. 993 
payment by the authority to the financial institution holding the 
employee's student loan. 
FISCAL .\"OTE REQURED 
(See attached) 
COMMITTEE AMENDMENT 
Fiscal Detail and Notes 
Approved: 04/15/04 ;:t;pac:.. 
Office of Fiscal and Program Review 
LD993 
An Act to Promote Economic Growth by Retaining Engineers in Maine 
LR 1189(04) 
Fiscal Note for Bill as Amended by Committee Amendment ,~, 
Committee: Appropriations and Financial Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
Future biennium cost increase - General Fund 
This bill establishes the Maine Engineers Recruitment and Retention Program Fund as a nonlapsing fund administered 
by the Finance Authority of Maine. The Fund is authorized to receive money from gifts, grants, bequests, loans and 
donations in addition to money appropriated or allocated by the State. It is not clear whether monies generated from 
these sources of funds will be sufficient to support the program. The estimated amount of funds needed to repay the 
loans in the fIrst year, which is expected to be fIscal year 2007-08, is $25,000, excluding administrative costs. That 
amount will increase by an additional $25,000 per year until it reaches the maximum amount needed in the fourth year 
of the program of $100,000. 
In addition, the Finance Authority of Maine will require a General Fund appropriation to establish and administer the 
program of $28,000 in fIscal year 2006-07 and $3,000 per year beginning in fIscal year 2007-08 for on-going 
administrative costs. These costs may be partially offset by interest earnings of the fund which may be used for 
administrative purposes. The amount of interest income that will be generated is not expected to be significant. Any 
additional cost to the University of Maine System to serve on the advisory committee can be absorbed by the 
University utilizing existing budgeted resources. 
LRl189(4) - Fiscal Note - Page 1 of 1