An Act To Recruit and Retain College Graduates through Loan Repayment
Maine Legislature, Session 122, LD 0399
Committee Amendment CA_A_H553 (House)

COMMITTEE AMENDMENT "A" to H.P. 302, L.D. 
To 
Recruit 
and 
Retain 
College 
Graduates 
Repayment" 
99 , Bill , 
" An 
through 
Loan 
Amend 
the 
bill 
in 
section 
in 
that 
part 
designated 
"§12531." in subsection 2 in the 5th and 6th lines (page 1, lines 
and 23 in L.D.) by striking out the following: "a full-time 
position within a labor shortage area at the time of hire" and 
inserting in its place the following: 'other statewide recognized 
economic development entity' 
Further amend the bill in section I in that part designated 
"S12531." by striking out all of subsection 3. 
Further amend the bill in section 1 in that part designated 
"S12532." in subsection 2 in the first paragraph in the 2nd line 
(page 1, 
line 40 in L.D.) 
by inserting after the following: 
"authority" the following: 'in consultation with the Governor' 
Further amend the bill in section I in that part designated 
"§12532." in subsection I in the 5th line (page 1, line 36 in 
L.D.) 
by striking out the fOllowing: 
"and to work in labor 
shortage areas" 
SUMMARY 
This amendment provides that "eligible employment position" 
may 
include 
a position as 
an employee of 
a 
technology-based 
Page l-LR0477 (2) 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT ,~" to H.P. 302, L.n. 399 
business 
developed 
within 
any 
statewide 
recognized 
economic 
development entity. 
It deletes the provision in the bill that 
allows eligibility based on full-time employment within a labor 
shortage area. 
It also requires the Finance Authority of Maine 
to identify the eligibility rules for the program in consultation 
with the Governor. 
FISCAL :\OTE REQl'm.ED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 05/18/05 ~ac:.. 
LD399 
LR0477(02) 
An Act To Recruit and Retain College Graduates through Loan Repayment 
Fiscal Note for Bill as Amended by Committee Amendment ,YJ " 
Committee: Business, Research and Economic Development 
Net Cost (Savings) 
General Fund 
Appropriations/Allocations 
General Fund 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
2005-06 
2006-07 
$1,000,000 
$1,000,000 
$1,000,000 
$1,000,000 
Projections 
2007-08 
$1,000,000 
$1,000,000 
Projections 
2008-09 
$1,000,000 
$1,000,000 
This bill includes ongoing General Fund appropriations of $1,000,000 per year, beginning in fiscal year 2005-06, for 
the Future for Youth in Maine Loan Repayment Program to be established and administered by the Finance Authority 
of Maine. 
The Finance Authority of Maine estimates the cost to administer the program to be $28,200 in fiscal year 2005-06 and 
$5,500 in fiscal year 2006-07. The costs in fiscal year 2005-06 include $22,700 in one-time expenses related to 
establishing the program, rulemaking, preparation of notices and related mailing and marketing of the program. The 
Authority estimates the on-going costs associated with administering the program to be $5,500 per year beginning in 
fiscal year 2005-06. Since this legislation allows for the administrative costs to be paid for out of the Future for Youth 
in Maine Loan Repayment Program revolving fund, no additional General Fund appropriations will be required. 
Any additional costs to the Department of Labor and the Department of Economic and Community Development can 
be absorbed utilizing existing budgeted resources. 
LR0477(2) - Fiscal Note - Page 1 of 1