An Act to Simplify the Finance Authority of Maine Act LR 2611(02)
Maine Legislature, Session 121, LD 1766
Committee Amendment CA_A_H686 (House)
Amends: 10 MRSA §1023-F, 10 MRSA §1026-H, 10 MRSA §1044, 10 MRSA §1063

COMMITTEE AMENDMENT .. /1 .. to H.P. 1288, L.D. 1766, 
Act To Simplify the Finance Authority of Maine Act" 
Bill, "An 
Amend the bill by inserting after section 22 the following: 
'Sec. 23. 10 MRSA §1023-F, as repealed and replaced by PL 
1989, c. 878, Pt. A, §25, is repealed.' 
Further amend the bill in section 29 in that part designated 
"§1026-A." by striking out all of subsection I-A (page 14, lines 
to 46 in L.D.) and inserting in its place the following: 
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iss~eQ-~-~~-~~~T-~~~~~it~-ffiay-4~~e-~-affie~B~ 
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COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT '#' to H.P. 1288, L.D. 1766 
Further amend the bill in section 29 in that 
"§1026-A." in sUbsection 4 by striking out all 
(page 15, 
line 43 
in L.D.) 
and inserting in 
following: 
part designated 
of paragraph D 
its place the 
'D. 
Residential housing, 
other than congregate or group 
housing: or' 
Further amend the bill by striking out all of section 36 and 
inserting in its place the following: 
'Sec. 36. 10 MRSA §1026-H, as enacted by PL 1989, c. 552, 
§14, is repealed.' 
Further amend the bill in section 48 in the first line (page 
20, line 9 in L.D.) by striking out the following: 
"§1044." and 
inserting in its place the following: 
'§1044; 
Further amend the bill by inserting after section 48 the 
following: 
'Sec. 49. 10 MRSA §1044, sub-§ll, as enacted by PL 1985, c. 
344, §71, is repealed and the following enacted in its place: 
11. 
EnviroDmenta1 protection. 
For all revenue obligation 
securities in exces s of $1. 000.000 and in other instances when 
the authority determines it is appropriate, the authority shall 
obtain a written assessment from the Department of Environmental 
Protection 
of 
the 
environmental 
condi tions 
known 
by 
the 
department to exist at a project location so that the authority 
fully considers environmental risks when making its decisions. 
Environmental conditions posing risks that must be considered 
include, but are not limited to, licensing obligations, existing 
or 
historic 
regulatory 
noncompliance 
and 
site 
clean-up 
responsibilities.' 
Further amend the bill by inserting after section 49 the 
following: 
'Sec. 50. 10 MRSA §1063, sub-§2, tE, as repealed and replaced 
by PL 1989, c. 878, Pt. A, §28, is repealed and the following 
enacted in its place: 
E. 
For all revenue obligation securities in excess of 
$1.000,000 
and 
in 
other 
instances 
when 
the 
authority 
determines 
it 
is 
appropr iate, 
the 
Department 
of 
Environmental Protection has provided a written assessment 
to the authority of the environmental conditions known by 
the department to exist at a project location so that the 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT .. H 
. to H.P. 1288, L.D. 1766 
authority fully considers environmental risks when making 
its decisions. 
Environmental conditions posing risks that 
must 
be 
considered 
include, 
but 
are 
not 
limited 
to, 
licensing 
obligations r 
existing 
or 
historic 
regulatory 
noncompliance and site clean-up responsibilities. 
Sec. 51. Effective date. 
This Act takes effect January 1, 2005.' 
Further amend the bill by relettering 
nonconsecutive 
Part 
letter 
or 
section 
consecutively. 
SUMMARY 
or renumbering any 
number 
to 
read 
The amendment is the majority report of the committee. 
The 
amendment makes involvement of the Department of Environmental 
Protection consistent throughout the Finance Authority of Maine's 
loan insurance programs. 
Additionally, 
the amendment repeals 
redundant statutory sections and makes other technical changes. 
FISCAL ~OTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Fiscal Detail and Notes 
Approved: 02/04/04 ~ae 
Office of Fiscal and Program Review 
LD 1766 
An Act to Simplify the Finance Authority of Maine Act 
LR 2611(02) 
Fiscal Note for Bill as Amended by Committee Amendment" " 
Committee: Business, Research and Economic Development 
Fiscal Note Required: Yes 
Majority Report 
Fiscal Note 
Minor cost increase - General Fund 
Additional costs to the Finance Authority of Maine associated with rulemaking can be absorbed utilizing existing 
budgeted resources. 
Additional costs to the Department of Defense, Veterans and Emergency Management associated with consulting with 
the Finance Authority of Maine can be absorbed utilizing existing budgeted resources. 
Additional costs to the Department of Environmental Protection associated with providing written assessments of 
certain environmental conditions can be absorbed utilizing existing budgeted resources. 
LR26 1 1(2) - Fiscal Note - Page 1 of 1