An Act To Authorize a General Fund Bond Issue To Stimulate Economic Growth and Job Creation through Investments in the Maine Economy
Maine Legislature, Session 122, LD 1020
Committee: Appropriations and Financial Affairs
Sponsors: SMITH, BEAUDETTE, JACOBSEN, O'BRIEN, RECTOR, RICHARDSON, BRYANT, DOW
Amends: 7 MRSA §437, 10 MRSA §1023-J

Legislative Document 
No. 1020 
H.P.704 
House of Representatives, February 24,2005 
An Act To Authorize a General Fund Bond Issue To Stimulate 
Economic Growth and Job Creation through Investments in the 
Maine Economy 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
7r/~ 
/J7.11!tl£~{ 
MILLICENT M. MacFARLAND 
Clerk 
Presented by Representative SMITH of Monmouth. (GOVERNOR'S BILL) 
Cosponsored by Representatives: BEAUDETTE of Biddeford, JACOBSEN of Waterboro, 
O'BRIEN of Lewiston, RECTOR of Thomaston, Speaker RICHARDSON of Brunswick, 
Senators: BRYANT of Oxford, DOW of Lincoln. 
Printed on recycled paper 
Preamble. 
Two thirds of both Houses of the Legislature 
deeming it necessary in accordance with the Constitution of 
Maine, Article IX, Section 14 to authorize the issuance of bonds 
on behalf of the State of Maine to provide funds as described in 
this Act, 
Be it enacted by the People of the State of Maine as follows: 
PART A 
Sec. A-I. Authorization of bonds. 
The Treasurer of State is 
authorized, under the direction of the Governor, to issue bonds 
in the name and on behalf of the State in an amount not exceeding 
$78,850,000 for the purposes described in section 6 of this 
Part. 
The bonds are a pledge of the full faith and credit of the 
State. 
The bonds may not run for a period longer than 10 years 
from the date of the original issue of the bonds. 
At the 
discretion of the Treasurer of State, with the approval of the 
Governor, any issuance of bonds may contain a call feature. 
Sec. A-2. Records of bonds issued kept by Treasurer of State. The 
Treasurer of State shall keep an account of each bond showing the 
number of the bond, the name of the successful bidder to whom 
sold, the amount received for the bond, the date of sale and the 
date when payable. 
Sec. A-3. 
Sale; how negotiated; proceeds appropriated. 
The 
Treasurer of State may 
negotiate 
the sale of the bonds 
by 
direction of the Governor, but no bond may be loaned, pledged or 
hypothecated on behalf of the State. 
The proceeds of the sale of 
the bonds, which must be held by the Treasurer of State and paid 
by the Treasurer of State upon warrants drawn by the State 
Controller, are appropriated solely for the purposes set forth in 
this Part. 
Any unencumbered balances remaining at the completion 
of the project in this Part lapse to the debt service account 
established for the retirement of these bonds. 
Sec. A-4. Interest and debt retirement. 
The Treasurer of State 
shall pay interest due or accruing on any bonds issued under this 
Part and all sums coming due for payment of bonds at maturity. 
Sec. A-S. 
Disbursement of bond proceeds. 
The proceeds of the 
bonds must be expended as set out in this Part under the 
direction and supervision of the Department of Agriculture, Food 
and Rural Resources, the Department of Economic and Community 
Development, 
the 
Department 
of 
Education, 
the 
Department of 
Marine Resources, the Finance Authority of Maine, the Maine State 
Cultural Affairs Council, the Maine State Housing Authority, the 
Small Enterprise Growth Board and the University of Maine System. 
Page l-LR2244(1) 
( 
Sec. A-6. Allocations from General Fund bond issue. The proceeds 
of the sale of the bonds authorized under this Part must be 
expended as designated in the following schedule. 
ECOHC»UC AND COMMUNITY DEVELOPMENT, 
DEPARTMENT OF 
Provides funds for the Maine Biomedical 
Research Fund to support capital 
infrastructure and equipment in 
anticipation of $100,000,000 in federal 
and private funds. 
Eligible institutions 
are those delineated in the Maine Revised 
Statutes, Title 5, section 13103. 
Provides funds to purchase the property 
known as Black Duck Cove on Great Wass Island 
to serve as the home of the Downeast Institute 
for Applied Marine 
Research and Education. 
Provides funds for the Marine Infrastructure 
and Technology Fund administered by the Maine 
Technology Institute to match $9,000,000 in 
federal and private funding for competitive 
capital infrastructure grants to nonprofit 
marine research laboratories, institutions and 
state governmental and quasi-governmental agencies. 
Provides funds to the Forestry and Agriculture 
Research Fund administered by the Maine 
Technology Institute to match $5,000,000 
in federal and private funding for 
competitive capital infrastructure grants 
to nonprofit research 
laboratories, institutions 
and state governmental and quasi-governmental 
agencies. 
SMALL ENTERPRISE GROWTH BOARD 
Provides funds for the Small Enterprise 
Growth Fund to make equity investments 
in small Maine companies with the potential 
for high growth. 
CULTURAL AFFAIRS COUNCIL, MAINE STATE 
Provides funds for the New Century Community 
Program in anticipation of $15,000,000 in 
matching funds to invest in capital improvements 
$22,000,000 
$850,000 
$9,000,000 
$5,000,000 
$2,000,000 
$5,000,000 
improving cultural assets, including 
libraries, museums, historical buildings, 
theaters and arts facilities. 
AGRICULTURE, FOOD AND RURAL RESOURCES, 
DEPARTMENT OF 
Provides funds for sustainable water sources 
and irrigation system development, to leverage 
private funds of at least $800,000. 
Funds to replenish the Agricultural Marketing 
Loan Fund to support farm business development, 
to leverage private funds of at least $600,000. 
MARINE RESOURCES, DEPARTMENT OF 
Provides funds for grants through the 
Working Waterfronts Conservation Program 
to leverage $3,000,000 in matching funds. 
UNIVERSITY OF MAINE SYSTEM 
Provides funds to furnish and outfit the 
new bioscience building at the University 
of Southern Maine with laboratories and 
equipment to leverage $1,200,000 in 
federal funds. 
State match to build the University of Maine 
cold water aquaculture marine science 
facility. 
Funds will leverage approximately 
$10,000,000 in federal funds. 
Funds to outfit the Laboratory for Surface 
Science Technology clean room facility at 
the University of Maine with state-of-the-art 
nanofabrication tools and instrumentation. 
These funds help leverage $4,000,000 in 
federal grants and contracts for research. 
Funds to renovate Camden Hall on the 
University of Maine-Bangor campus for a 
graduate school for biomedical science. 
Provides funds for the career center 
facility at the University of Southern 
Maine's Lewiston-Auburn College. 
Funds will be used for capital costs 
and equipment for the center. 
$1,000,000 
$1,000,000 
$3,000,000 
$5,000,000 
$6,000,000 
$4,000,000 
$3,000,000 
$2,000,000 
( 
FINANCE AUTHORITY OF MAIRE 
Provides education loan repayment incentives 
to retain and recruit skilled workers in Maine. 
Provides funds for Recapitalization of the 
Economic Recovery Loan Program. 
EDUCATIOR, 
DEPAR"l"MENT OF 
Provides funds for the development of the 
Sunrise Business and Career Center in the 
Town of Jonesboro. 
MAIRE STATE HOUSING AUTHORITY 
Provides funds, in anticipation of $1,000,000 in 
matching federal funds, for family and elderly 
housing options for Native American tribes 
through the Four Directions Development Corporation. 
Provides funds for the development of 
affordable workforce housing and 
downtown housing and for weatherization and 
home repair in anticipation of an additional 
$9,000,000 in other public and private funding. 
$1,000,000 
$3,000,000 
$1,000,000 
$1,000,000 
$4,000,000 
Sec. A-7. Contingent upon ratification of bond issue. Sections 1 
to 6 do not become effective unless the people of the State 
ratify the issuance of the bonds as set forth in this Part. 
Sec. A-S. Appropriation balances at year-end. At the end of each 
fiscal year, all unencumbered appropriation balances representing 
state money carry forward. 
Bond proceeds that have not been 
expended within 10 years after the date of the sale of the bonds 
lapse to General Fund debt service. 
Sec. A-9. Bonds authorized but not issued. Any bonds authorized 
but not issued, or for which bond anticipation notes are not 
issued within 
years 
of 
ratification of this Part, 
are 
deauthorized and may not be issued, except that the Legislature 
may, within 2 years after the expiration of that 5-year period, 
extend the period for issuing any remaining unissued bonds or 
bond anticipation notes for an additional amount of time not to 
exceed 5 years. 
Sec. A-tO. 
Referendum for ratification; submission at statewide 
election; form of question; effective date. This Part must be submitted 
to 
the 
legal 
voters 
of 
the State at 
a 
statewide election held 
in June 
following passage of this Act. 
The municipal officers of this 
State shall notify the inhabitants of their respective cities, 
towns and plantations to meet, in the manner prescribed by law 
for holding a statewide election, to vote on the acceptance or 
rejection of this Part by voting on the following question: 
"Do you favor a $78,850,000 bond issue to stimulate economic 
growth and job creation through investments in the Maine 
economy in anticipation of approximately $148,000,000 
in 
federal and private funds? The bonds will be used for the 
following purposes: 
1. 
The 
sum 
of 
$22,000,000 
for 
medical 
research 
and 
development by Maine-based biomedical research institutions 
in anticipation of approximately $100,000,000 in federal and 
private funds for health research to cure disease and to 
retain Maine graduates by providing high-quality Maine jobs; 
2. 
The sum of $850,000 to purchase the property known as 
Black Duck Cove on Great Wass Island to serve as the home of 
the 
Downeast 
Institute for 
Applied 
Marine 
Research 
and 
Education; 
3. 
The 
sum 
of 
$9,000,000 
for 
marine 
research 
and 
development in anticipation of 
$9,000,000 in federal and 
private 
funding 
for 
competitive capital 
infrastructure 
grants to sustain and develop Maine's marine-based economy; 
4. 
The 
sum of $5,000,000 for forestry and agriculture 
research and development in anticipation of 
$5,000,000 in 
federal 
and 
private 
funding 
for 
competitive 
grants 
to 
sustain Maine's forestry and agricultural economy; 
5. 
The sum of $2,000,000 for the Small Enterprise Growth 
Fund for equity investments in small Maine companies with 
potential 
for 
high growth 
to 
leverage private equity 
investments; 
6. 
The sum of $5,000,000 for the New Century Community 
Program for capital improvements to cultural resources; 
7. 
The sum of $1,000,000 for sustainable water sources and 
irrigation system development to leverage private funds of 
at least $800,000; 
8. 
The sum of $1,000,000 
to replenish the Agricultural 
Marketing Loan Fund to support farm business development, to 
leverage private funds of at least $600,000; 
( 
9. 
The 
sum 
of 
$3,000,000 
for grants 
through 
Working 
Waterfronts Conservation Program to leverage $3,000,000 in 
matching funds; 
10. 
The sum of $5,000,000 to furnish and outfit the new 
bioscience building at the University of Southern Maine with 
laboratories and equipment to leverage $1,200,000 in federal 
funds; 
11. 
The sum of $6,000,000 to build the University of Maine 
cold water aquaculture marine science facility to leverage 
approximately $10,000,000 in federal funds; 
12. 
The sum of $4,000,000 to outfit the Laboratory for 
Surface Science Technology clean 
room facility at the 
University of Maine with state-of-the-art nanofabrication 
tools and instrumentation to leverage $4,000,000 in federal 
grants and contracts for research; 
13. 
The sum of $3,000,000 to renovate Camden Hall on the 
University of Maine-Bangor campus for a graduate school for 
biomedical science; 
14. 
The sum of $2,000,000 for capital costs and equipment 
for the career center facility at the University of Southern 
Maine's Lewiston-Auburn College; 
15. 
The 
sum of $1,000,000 for education loan repayment 
incentives through the Finance Authority of Maine to retain 
and recruit skilled workers in Maine; 
16. 
The 
sum of $3,000,000 for recapitalization of the 
Economic Recovery Program through the Finance Authority of 
Maine; 
17. 
The 
sum of $1,000,000 for the development of the 
Sunrise Business and Career Center in the Town of Jonesboro; 
18. 
The 
sum of $4,000,000 to provide funds 
for the 
development of affordable workforce housing and downtown 
housing 
and 
for 
weatherization 
and 
home 
repair 
in 
anticipation of an additional $9,000,000 in other public and 
private funding; and 
19. 
The sum of $1,000,000 for family and elderly 
options 
for 
Native 
American 
tribes 
through 
Directions 
Development 
Corporation 
to 
help 
$1,000,000 in federal funds." 
housing 
the 
Four 
attract 
The legal voters of each city, town and plantation shall 
vote by ballot on this question and designate their choice by a 
cross or check mark placed within a corresponding square below 
the word "Yes" or "No." 
The ballots must be received, sorted, 
counted and declared in open ward, town and plantation meetings 
and returns made to the Secretary of State in the same manner as 
votes for members of the Legislature. 
The Governor shall review 
the returns and, if a majority of the legal votes are cast in 
favor of this Part, the Governor shall proclaim the result 
without delay, and this Part becomes effective 30 days after the 
date of the proclamation. 
The Secretary of State shall prepare and furnish to each 
city, town and plantation all ballots, returns and copies of this 
Part necessary to carry out the purposes of this referendum. 
PARTB 
Sec. B-1. 12 MRSA c. 633 is enacted to read: 
CHAPTER 633 
WORKING WATERFRONT 
§6981. 
Permanent working waterfront protection 
1. 
Objectives. 
The department shall establish a grant 
program for the acquisition of real estate and interest in real 
estate that constitutes working waterfront in coastal harbors in 
which the commercial fisheries are under threat due to the loss 
of essential waterfront properties and facilities that provide 
working access. 
2. 
Se1ection 
criteria. 
The 
department 
shall 
develop 
selection criteria with which to evaluate applications for 
investment 
in protected working waterfront properties. 
The 
selection criteria must include, without limitation: 
A. 
The 
economic significance of the property to the 
commercial fisheries industry in the immediate vicinity and 
in the State as a whole; 
B. 
The availability of alternative working waterfront 
properties in the same vicinity; 
c. 
The 
degree 
of 
community 
support 
for 
the 
proposed 
investment; 
D. 
The level of threat of conversion to uses incompatible 
with commercial fisheries; and 
\ 
( 
E. 
The utility of the proposed protected property for 
commercial 
fisheries 
uses 
in 
terms 
of 
its 
natural 
characteristics and developed infrastructure. 
3. 
Interests acquired: permanence. 
The department may 
acquire real estate interests described under subsection 1 
directly from willing property owners or may make acquisition 
grants to local governments and to organizations qualified to 
hold conservation easements under Title 33, chapter 7, subchapter 
8-A. 
Grants made pursuant to this section are for the purpose of 
acqu~r~ng real property in both fee 
and less-than-fee simple 
interest, including, but not limited to, conservation easements, 
access easements and other permanent interests in land. 
The 
department shall include, as a condition of any acquisition and 
grant made under this section, the requirement that the protected 
property may not be used, altered or developed in a manner that 
precludes its use by commercial fisheries. 
As 
an additional 
condition, the department must retain a permanent right of first 
refusal 
on 
any 
property 
acquired 
in 
fee 
or 
protected 
by 
conservation easement. 
Exercise of the right of first refusal 
must be at a 
price determined by an independent professional 
appraiser based on the value of the property to a commercial 
fishery at the time of exercise of the right. 
The department may 
assign this right to 
a 
commercial 
fishery or to 
a 
local 
government if, in the department's judgment, such an assignment 
is consistent with the purposes of this chapter. 
4. 
Matching funds. 
For each grant made under this section, 
the department shall require that the grant recipient provide 
matching funds at least equal to the amount of the grant. 
Sec. B-2. Application; contingent on bond issue. This Part takes 
effect only if the general revenue bond issue in Part A is 
approved by the voters of this State. 
PARTC 
Sec. C-l. 7 MRS A §306-A, sub-§3, <J[B, as enacted by PL 1999, c. 
72, §5, is amended to read: 
B. 
At: ±east: 69% a:E t:ae t:at:a± east: a:E aRY FFajeet: mlist: ae 
:EliReee ay t:ae aFF±ieaRt: aF aFF±ieaRt:s aRe at: ±east: ±9% a:E 
t:ae t:et:a± east: mlist: Be :EliReee :EFam RaRFliB±ie saliFees... 
A 
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t:e ae 
~FaRt:ee iR a 
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iR Re ease may a 
siR~±e ~FaRt: eHeeee $39 T 999 All projects funded by a grant 
must 
have 
a 
match, 
the 
percentage 
of 
which 
must 
be 
determined by the commissioner prior to any request for 
proposals; 
Sec. C-2. 7 MRS A §434, sub-§§l-A and 3 are enacted to read: 
I-A. 
Authority. 
"Authority" means the Finance Authority 
of Maine. 
3. Fund. 
"Fund" means the Agricultural Marketing Loan Fund 
established in Title 10, section 1023 J. 
Sec. C-3. 7 MRS A §435, as amended by PL 2003, c. 168, §§1 to 
3, is repealed. 
Sec. C-4. 7 MRS A §§435-A, 435-B and 435-C are enacted to read: 
§435-A. 
Administration of Agricultural Marketing Loan Fund 
The commissioner shall administer the Agricultural Marketing 
Loan 
Fund 
established 
under 
Title 
10, 
section 
1023 J 
in 
accordance with this subchapter. 
The commissioner may contract 
with the authority to assist in the administration of this 
subchapter. 
1. Fee for administrative costs. 
The 
commissioner 
may 
establish by rule in accordance with section 437 
a 
fee for 
administrative costs on loans made under this subchapter in 
excess of $100,000. 
This fee may not exceed 1% of the loan. 
2. Interest rate. 
The interest rate for loans made under 
this subchapter is 5% per year. 
3. Qperating account. 
The Agricultural Marketing Loan Fund 
Operating Account is established. 
This account draws funds from 
the fund on a periodic basis to be determined by the commissioner 
to cover costs of administering the fund and any loans or grants 
made from the fund. 
4. Report. 
The commissioner shall submit a report on or 
before March 1st of each year to the joint standing committee of 
the Legislature having jurisdiction over agricultural matters. 
The report must include a 
summary of loans made during the 
previous fiscal year and loans outstanding, categorized by the 
types of agricultural enterprises receiving the loans. 
§435-B. 
Use of fund 
1. Money from issuance of bonds. 
Any money credited to the 
fund from the issuance of bonds on behalf of the State for 
financing loans for agricultural enterprises may be used only for 
the following purposes: 
, 
,. 
A. 
To 
provide 
technical 
assistance 
to 
agricultural 
enterprises in this State for the design, construction or 
improvement 
of 
commodity 
storage 
buildings, 
production 
machinery and packing and marketing facilities; 
B. 
To provide loans for the purchase, construction or 
renovation of buildings, equipment, docks, wharves, piers or 
vessels used in connection with a commercial agricultural 
enterprise; 
c. 
To provide loans for the purchase or improvement of land: 
(1) 
In connection with development of new cranberry 
acreage; 
(2) 
For irrigation· reservoirs or to provide direct 
access to water for irrigation; 
(3) 
Necessary for the start-up of a new agricultural 
enterprise: 
(4) 
For the expansion of an existing agricultural 
enterprise when the land acquisition is necessary to 
comply with land use regulations; or 
(5) 
For the improvement of pastureland, including 
seeding and actions to promote rotational grazing; and 
D. 
For the development of a business plan in accordance 
with the provisions of section 436-A. 
2. 
Support for dairy farmers. 
At the time of a 
loan 
insurance commitment from the authority, 
the commissioner may 
pledge money in the fund as security for, and apply money in the 
fund to the payment of principal, interest and other amounts due 
on, a term loan insured by the authority to an eligible dairy 
farmer. 
In order to provide monetary support for Maine milk 
producers, the commissioner may take actions and direct the 
authority to take actions to provide support, including: 
A. 
Entering into agreements necessary to sell, assign or 
otherwise pledge amounts in the aggregate principal amount 
of loans and undivided interests in a pool of loans; and 
B. 
Assigning or pledging any cash balances in the fund, 
mortgages 
or other security to provide assurance that 
amounts provided as monetary support by the commissioner to 
milk producers are returned to their original sources. 
3. 
Use of loan repayments and earned interest. 
Repayment 
of loans and interest on loans made 
from the fund must be 
credited to the fund and may be used for the purposes stated in 
this section or section 436. 
Interest earned on money in the 
fund and interest earned on loans made from the fund may be used 
to pay the administrative costs of processing loan applications, 
to the extent that these costs exceed the fee for administrative 
costs established pursuant section 435-A, subsection 1. 
4. 
Loans for potato storage facilities. 
A purchaser of a 
modern storage facility, the purchase of which was financed with 
a 
state 
loan 
from 
the 
Potato 
Marketing 
Improvement 
Fund, 
established in Title 10, section 1023-N, may receive a loan from 
the fund, but may not receive 
a loan for the same project that 
was 
financed by the Potato Marketing Improvement Fund. 
The 
commissioner shall adopt rules in accordance with section 437 to 
implement this subsection. 
Subsequent purchasers of the property 
~ay assume 
mortgages 
obtained 
from 
the 
fund 
on 
terms 
and 
conditions determined by the commissioner. 
§435-C. 
Conditions and restrictions on agricultural marketing 
loans 
Agricultural marketing loans made from the fund under this 
subchapter 
are 
subject 
to 
the 
following 
restrictions 
and 
conditions. 
1. 
Project with total cost in excess of $100.000. 
An 
agricultural marketing loan may not exceed 75% of the project 
cost 
when 
the 
total 
project 
cost 
exceeds 
$100,000. 
The 
commissioner may not approve a loan for a project with a total 
cost in excess of $100,000 unless the loan applicant demonstrates 
a commitment of private funds of at least 5% of the total cost of 
the project. 
2. 
Cooperative project with 
total cost in excess of 
$100.000. 
Notwithstanding subsection 1, in order to encourage 
the undertaking of cooperative projects by 2 or more agricultural 
enterprises, an agricultural marketing loan may be provided when 
or 
more 
cooperating 
agricultural 
enterprises 
as 
a 
group 
demonstrate a commitment of private funds of at least 5% of the 
total cost of the project. 
3. Project with 
total cost of $100.000 or less. 
An 
agricultural marketing loan may not exceed 90q.o of the project 
cost when the total cost of the project is $100,000 or less. 
4. 
Loans 
for 
land 
purchases 
for 
new 
agricultural 
enterprises. 
An agricultural marketing loan for the purchase of 
Page ll-LR2244(l) 
• 
:-
land necessary for the start-up of a new agricultural enterprise 
may not exceed $100,000. 
5. 
Loans for aquacultural enterprises. 
When considering 
loans for aquacultural enterprises, the commissioner may consult 
with the Department of Marine Resources. 
6. 
Conditions prescribed by rules. 
An 
agricultural 
marketing 
loan is 
subject 
to 
other 
terms 
and 
conditions 
prescribed by rule in accordance with section 437. 
Sec. C-S. 7 MRSA §437, as enacted by PL 1995, c. 658, §l, is 
repealed and the following enacted in its place: 
§437. 
Rulemaking 
The 
commissioner 
shall 
adopt 
rules 
to 
implement 
this 
subchapter. Rules adopted pursuant to this section are routine 
technical rules as defined in Title 5, chapter 375, subchapter 
2-11.. 
The rules must include provisions to ensure that use of the 
fund for the purchase of a building that was financed under the 
Potato Marketing Improvement Fund is consistent with the purposes 
of this subchapter. 
The 
commissioner 
may 
establish, 
by 
rule. 
terms 
and 
conditions for loans made under this subchapter, including, but 
not limited to, a mechanism for reserving funds for or giving 
priority to projects for agricultural enterprises or in areas of 
the State determined by the commissioner to require special 
assistance. 
Sec. C-6. 10 MRSA §1023-J, as amended by PL 2003, c. 578, §8, 
is further amended to read: 
§1023-J. 
Agricultural Marketing Loan Fund 
The Agricultural Marketing Loan Fund, referred to in this 
section as the "fund," is created. 
The fund must be deposited 
with and maintained by the Finance Authority of Maine. 
The fund 
must be administered by the Commissioner of Agriculture, Food and 
Rural 
Resources 
in 
accordance 
with Title 
7, 
chapter 
101, 
subchapter I-D. 
All money received by the Finance Authority of 
Maine from any source for the development and implementation of 
an improved agricultural marketing loan program must be credited 
to the fund. 
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Page l2-LR2244(1) 
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AatheFity eE Maiae te aa eli~ible aaiFY EaFmeF may be used only 
in 
accordance 
with 
Title 
7, 
chapter 
101, 
subchapter 
I-D. 
Repaymeat eE these leaas aaa iateFest ea these leaas mast be 
eFeaitea te the Eaaa aaa may be asea EeF the paFpeses statea ia 
this seetiea eF ~itle +T seetiea 4~9T IateFest eaFaea ea meaey 
ia the Eaaa aaa iateFest eaFaea ea leaas maae EFem the Eaaa may 
be asea te pay the aamiaistFative eests eE 
pFeeessia~ leaa 
applieatieasT te the eHteat that these eests eHeeee the Eee EeF 
aamiaistFative eests establishea by 
~itle 
+T 
seetiea 
4~§T 
sabseetiea-4T 
A paFehaseF eE a meaeFa steFa~e Eaeility that was pFevieasly 
Eiaaaeea with a state leaa EFem the Petate MaFketia~ ImpFevemeat 
~aaa may Feeeive a leaa EFem the 
A~FiealtaFal MaFketia~ beaa 
~aaaT bat aet EeF the same pFejeet Eiaaaeea by the Petate 
MaFketia~ ImpFevemeat ~aaaT 
MeFt~a~es ebtaiaea EFem the Eaaa may 
be-assQffiea-by-sabse~aeat-paFehaseFs-eE-the-pFepeFtYT 
Ia eFaeF 
te pFeviae 
meaetaFY 
suppeFt 
EeF 
Maiae 
milk 
PFeeaeeFST 
the 
GemmissieaeF 
eE 
A~FiealtaFeT 
~eea aaa 
RaFal 
ReseaFees may take aetieas aaa aiFeet Ehe 
~iaaaee AatheFity eE 
Maiae te take aetieas te pFeviae sappeFt iaelaaia~ eateFia~ iaEe 
a~Feemeats as may be 
aeeessaFY te sellT 
assi~a eF etheFwise 
plea~e ameaats ia the 
a~~Fe~ate pFiaeipal ameaat eE leaas aae 
aaaiviaea iateFests ia a peel eE leaasT aaa assi~a eF plea~e aay 
eash balaaees ia the EaaaT meFt~a~es eF etheF seeaFity te pFeviae 
assaFaaee that ameaats pFeviaea as meaetaFY sappeFt by the 
eemmissieaeF te milk pFeaaeeFs aFe FetaFaea te theiF 
eFi~iaal 
seaFeeT 
Sec. C-7. Application; contingent on bond issue. This Part takes 
effect only if the general revenue bond issue in Part A is 
approved by the voters of this State. 
( 
• 
PARTD 
Sec. D-l. 20-A MRSA c. 428-B is enacted to read: 
CHAPTER 428-B 
MAINE RECRUITMENT AND RETENTION PROGRAM 
§12531. Definitions 
AS 
used 
in this 
chapter, 
unless 
the 
context otherwise 
indicates, the following terms have the following meanings. 
1. 
Authority. "Authority" means the Finance Authority of 
Maine. 
2. 
Chief executive officer. "Chief executive officer" means 
the Chief Executive Officer of the Finance Authority of Maine. 
3. 
E1igib1e emp10yment position. 
"Eligible employment 
position" means a full-time position of employment that reguires 
at a minimum a bachelor's degree with an employer located in this 
State. 
4. 
E1igib1e 
individuaL 
"Eligible 
individual" 
means 
a 
person who holds a bachelor's degree. 
5. 
Program. 
"Program" means the Maine Recruitment and 
Retention Program established in section 12532. 
6. 
Workforce Cabinet. 
"Workforce Cabinet" means the group 
appointed by the Governor to study and make recommendations 
regarding workforce policy. 
§12532. 
Maine Recruitment and Retention Program 
The Maine Recruitment and Retention Program is established 
to provide assistance to Maine employers seeking to recruit 
individuals for full-time employment in this State by providing 
financial assistance to eligible individuals 
who fill such 
positions. 
§12533. 
E1igibi1ity reguirements 
1. 
E1igib1e positions. 
The chief executive officer with 
the advice of the Workforce Cabinet shall, by rule, identify 
eligible employment positions. 
2. 
Program 
10an 
repayment 
agreement. 
A 
program 
loan 
repayment agreement may be given only to an individual who is 
employed in this State in an eligible employment position and who 
has met other eligibility criteria established by rule of the 
authority. 
§12534. 
Loan repayment agreement application 
Beginning January 1, 2006, an eligible individual who has 
outstanding student loans from financial institutions may apply 
to obtain one or more program loan repayment agreements under 
section 12533. 
Applications must be submitted to the authority 
at a time and in a format to be determined by the authority. 
§12535. 
Maximum loan repayment; participation 
The maximum program loan repayment amount available to each 
eligible individual is $5,000 per year for a maximum of 4 years. 
§12536. 
Payment 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 repayment 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 individual's student loans. 
§12537. 
Honlapsing revolving fund 
1. 
Creation of fund. The Maine Recruitment and Retention 
Program Fund, referred to in this section as "the fund," is 
created as 
a 
nonlapsing, 
interest-earning, 
revolving fund 
to 
carry out the purposes of this chapter. 
The 
fund must be 
deposited with and maintained and administered by the authority. 
Any unexpended balance in the fund carries over for continued use 
under this chapter. The authority may receive, invest and expend 
on behalf of the fund money from gifts, grants, bequests, loans 
and donations in addition to money appropriated or allocated by 
the State. Money received by the authority on behalf of the fund, 
except interest income, must be used for the purposes of this 
chapter; interest income may be used for the purposes of this 
chapter or to pay administrative costs incurred by the authority, 
as determined appropriate by the authority. 
Page l5-LR2244(1) 
• 
" 
2. 
Administrative 
expenses. 
Costs 
and 
expenses 
of 
maintaining, 
servicing 
and 
administering 
the 
fund 
and 
administering the program may be paid out of amounts in the 
fund. 
§12538. 
Rules 
The authority shall adopt rules to implement this chapter. 
Rules adopted by the authority pursuant to this chapter are 
routine 
technical 
rules 
pursuant 
to Title 
5, 
chapter 
375, 
subchapter 2-A. 
Sec. D-2. Application; contingent on bond issue. This Part takes 
effect only if the general revenue bond issue in Part A is 
approved by the voters of this State. 
SUMMARY 
PART A 
The funds provided by the bond issue in Part A, 
in the 
amount of $78,850,000, will be used to stimulate economic growth 
and job creation through investments in the Maine economy. 
The 
funds will be used for the following purposes: 
1. 
The 
sum of 
$22,000,000 for medical research and 
development by Maine-based biomedical research institutions in 
anticipation of approximately $100,000,000 in federal and private 
funds for health research to cure disease and to retain Maine 
graduates by providing high-quality Maine jobs; 
2. 
The sum of 
$850,000 to purchase the property known as 
Black Duck Cove on Great Wass Island to serve as the home of the 
Downeast Institute for Applied Marine Research and Education; 
3. 
The 
sum 
of 
$9,000,000 
for 
marine 
research and 
development in anticipation of 
$9,000,000 in federal and private 
funding for competitive capital infrastructure grants to sustain 
and develop Maine's marine-based economy; 
4. 
The sum of 
$5,000,000 for forestry and agricultural 
research and development in anticipation of 
$5,000,000 in 
federal and private funding for competitive grants to sustain 
Maine's forestry and agricultural economy; 
5. 
The sum of $2,000,000 for the Small Enterprise Growth 
Fund 
for 
equity 
investments 
in 
small 
Maine 
companies 
with 
potential for high growth to leverage private equity investments; 
6. 
The sum of $5,000,000 for the New Century Community 
Program for capital improvements to cultural resources; 
7. 
The sum of $1,000,000 for sustainable water sources and 
irrigation system development to leverage private funds of at 
least $800,000; 
8. 
The sum of $1,000,000 
to replenish the Agricultural 
Marketing Loan Fund to support farm business development, to 
leverage private funds of at least $600,000; 
. 
The 
sumo f 
$ 3 , 000 , 000 
Waterfronts 
Conservation 
Program 
for 
to 
grants 
leverage 
through 
Working 
$3,000,000 
in 
matching funds; 
10. 
The sum of $5,000,000 to furnish and outfit the new 
bioscience building at the University of Southern Maine with 
laboratories 
and equipment to leverage $1,200,000 in federal 
funds; 
11. 
The sum of $6,000,000 to build the University of Maine 
cold 
water 
aquaculture 
marine 
science 
facility 
to 
leverage 
approximately $10,000,000 in federal funds; 
12. 
The sum of $4,000,000 to outfit the Laboratory for 
Surface Science Technology clean room facility at the University 
of 
Maine 
with 
state-of-the-art 
lanofabrication 
tools 
and 
instrumentation to leverage $4,000,000 in federal grants 
and 
contracts for research; 
13. 
The sum of $3,000,000 to renovate Camden Hall on the 
University of Maine-Bangor 
campus 
for 
a 
graduate 
school 
for 
biomedical science; 
14. 
The sum of $2,000,000 for capital costs and equipment 
for the career center facility at the University of Southern 
Maine's Lewiston-Auburn College; 
\' 
, 
15. 
The sum of $1,000,000 for education loan repayment 
incentives through the Finance Authority of Maine to retain and 
recruit skilled workers in Maine; 
16. 
The sum of $3,000,000 for recapitalization of the 
Economic Recovery Program through the Finance Authority of Maine; 
17. 
The 
sum of $1,000,000 for the development of the 
Sunrise Business and Career Center in the Town of Jonesboro; 
18. 
The 
sum of $4,000,000 to provide funds 
for the 
development of affordable workforce housing and downtown housing 
, 
and for weatherization and home repair in anticipation of an 
additional $9,000,000 in other public and private funding; and 
19. 
The sum of $1,000,000 for family and elderly housing 
options for Native American tribes through the Four Directions 
Development Corporation to help attract $1,000,000 in federal 
funds. 
PART B 
Part B of this bill establishes a grant program for the 
acquisition of real estate that constitutes working waterfront in 
coastal harbors. 
PART C 
Part C of this bill reorganizes the laws governing the 
Agricultural Marketing Loan Fund. 
PART D 
Part D of this bill establishes 
Retention Program within the Finance 
provide repayment of educational loans 
bachelor's degree and work in Maine for 
the Maine Recruitment and 
Authority of Maine to 
of individuals who have a 
years.