An Act To Regulate the Bonded Indebtedness of the State
Maine Legislature, Session 125, LD 1153
Committee: Appropriations and Financial Affairs
Sponsors: THIBODEAU, CHASE, CURTIS, DAVIS
Amends: Title 26, Section 146, 4 MRSA §1606, 5 MRSA §152, 10 MRSA §362, 10 MRSA §363, 23 MRSA §1612, 23 MRSA §1965, 23 MRSA §1968, 30-A MRSA §6006-G

Legislative Document 
No. 1153 
S.P. 353 
In Senate, March 17, 2011 
An Act To Regulate the Bonded Indebtedness of the State 
Submitted by the Treasurer of State pursuant to Joint Rule 204. 
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed. 
JOSEPH G. CARLETON, JR. 
Secretary of the Senate 
Presented by Senator THIBODEAU of Waldo. 
Cosponsored by Representatives: CHASE of Wells, CURTIS of Madison, DAVIS of 
Sangerville. 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  4 MRSA §1606, sub-§1, as amended by PL 1997, c. 523, §14, is further 
amended to read: 
1.  Resolution for issuance of securities.  The authority may provide by resolution, 
at one time or from time to time, for the issuance and sale by it of securities, in its own 
name, for the purpose of paying the cost of any project, projects or part of any project, or 
the refinancing of existing indebtedness, approved by the authority.  Securities of the 
authority may not be authorized and issued except pursuant to a resolution adopted by the 
vote of not less than a majority of the members of the authority.  The resolution must 
describe the general purpose or purposes for which the securities are to be issued and 
state the maximum principal amount of the securities proposed to be issued.  Securities 
may not be issued by the authority without a 2/3 vote of approval in each House of the 
Legislature and must be approved by the legal voters of the State at a statewide election 
including the amount to be borrowed and the specific purpose for the bond. 
Sec. 2.  5 MRSA §152, as amended by PL 2007, c. 515, §1, is further amended to 
read: 
§152.  Ratification of bond issue; signed statement 
In accordance with the Constitution of Maine, Article IX, section 14, the Treasurer of 
State shall prepare a signed statement to accompany any question submitted to the 
electors for ratification of a bond issue setting forth the total amount of bonds of the State 
outstanding and unpaid, the total amount of bonds of the State authorized and unissued 
and the total amount of bonds of the State contemplated to be issued if the enactment 
submitted to the electors should be ratified. The Treasurer of State shall also set forth in 
that statement an estimate of costs involved, including explanation of, based on such 
factors as interest rates that may vary, the interest cost contemplated to be paid on the 
amount to be issued, the total cost of principal and interest that will be paid at maturity, 
the total estimated cost of debt service that will be paid over the life of the bond per 
person based on the State's population from the latest Federal Decennial Census and any 
other substantive explanatory information relating to the debt of the State as the Treasurer 
of State considers appropriate.  To meet the requirement that the signed statement of the 
Treasurer of State accompany any ballot question for ratification of a bond issue, the 
statement may be printed on the ballot or it may be printed as a separate document that is 
posted in each voting booth on election day and, in the case of absentee voting, the 
statement must be made available to each voter who votes in the presence of the 
municipal clerk or provided along with the ballot to each absentee voter who does not 
vote in the presence of the municipal clerk. 
Sec. 3.  5 MRSA c. 146 is enacted to read: 
CHAPTER 146 
VOTER APPROVAL OF INDEBTEDNESS 
§1601.  Definitions 
As used in this chapter, unless the context otherwise indicates, the following terms 
have the following meanings. 
1.  Authority.  "Authority" means an entity created by the Legislature with the power 
to issue bonded indebtedness. 
2.  Bonded indebtedness.  "Bonded indebtedness" means a note, bond, interim 
certificate, debenture or other evidence of indebtedness or revenue obligation security 
sold in a public or private offering.  
§1602.  Bonded indebtedness requires voter approval 
1.  Voter approval required.  Bonded indebtedness may not be created or authorized 
by the Legislature either directly or through any authority created by the Legislature 
without voter approval.  Any financial obligation of indebtedness must be submitted to 
the legal voters of the State at a statewide election including the amount to be borrowed 
and the specific purpose for the bond. 
2.  Exceptions.  Subsection 1 does not apply to: 
A.  Debts incurred to suppress insurrection, to repel invasion or for the purposes of 
war; 
B.  Temporary loans to be paid out of money raised by taxation during the fiscal year 
in which the loans are made; 
C.  Refinancing of existing indebtedness if there is conclusive net present value 
savings; 
D.  Contractual agreements for noncapital goods and services; 
E.  Local unit bonds; 
F.  Leases under sections 1587 or 1588; 
G.  Debt issued under Title 10, sections 1026-A; 1044; 1053, subsection 6, paragraph 
D; or 1064; 
H.  Student loan bonds and notes issued pursuant to Title 20-A, sections 11417 or 
11420; 
I.  Housing bonds and notes issued pursuant to Title 30-A, chapter 201; 
J.  Bonds and notes issued pursuant to Title 22, chapter 413; and 
K.  Bonds and notes issued pursuant to Title 30-A, chapter 225 but excluding section 
6006-G. 
§1603.  Competitive sale 
All bonded indebtedness authorized by the Legislature or sold by an authority created 
by the Legislature must be sold in a competitive sale, unless an alternative mode of sale is 
approved by a vote of the authority’s board and approved by the State Treasurer based on 
market conditions. 
Sec. 4.  10 MRSA §362, as amended by PL 1987, c. 413, §3, is further amended to 
read: 
§362.  Legislative purpose 
The Legislature finds and declares that the availability of financing through use of 
tax-exempt bonds is an effective and necessary tool for economic development, ensuring 
an adequate supply of affordable housing, providing for loans for higher education and 
promoting and improving the health, safety, welfare and quality of life of the people of 
the State. Because the availability of the financing is largely determined by the United 
States Internal Revenue Code and because there is a statewide need to assure that the 
limited amount of tax-exempt financing available is used in the most efficacious manner 
by issuers of bonds in the State to provide the greatest benefits to the State, the 
Legislature determines that the legislative purpose of promoting the best use of a limited 
resource can be best met by authorizing the Legislature and certain designated issuers of 
bonds Treasurer of State to allocate available amounts of tax-exempt bond authority 
among issuers. This chapter is intended to apply to the federal formulas in effect on the 
effective date of this chapter, as well as to any unified volume limitation that may be 
enacted subsequently by the United States Congress. Any action by the designated issuers 
pursuant to this chapter is expressly delegated to those issuers by the Legislature 
Treasurer of State for purposes of determining whether such action is authorized by the 
United States Code, Title 26. 
Sec. 5.  10 MRSA §363, as amended by PL 2007, c. 273, Pt. B, §5 and affected by 
§7 and amended by c. 520, §§1 and 2 and affected by c. 695, Pt. A, §47, is further 
amended to read: 
§363.  Allocation of the state ceiling 
1-A.  Procedure.  For By December 1st of each calendar year, the Legislature may 
Treasurer of State shall after consulting the various issuers affected establish a procedure 
for allocation of the entire amount of the state ceiling for the subsequent calendar year by 
allocating an amount of the state ceiling to the specific issuers designated in this section 
for further allocation by each specific issuer to itself or to other issuers for specific bond 
issues requiring an allocation of the state ceiling or for carryforward for the subsequent 
calendar year.  This procedure supersedes the federal formula to the full extent that the 
United States Code, Title 26, authorizes the Legislature to vary the federal formula.  
Allocations may be reviewed by the Legislature Treasurer of State periodically and 
unused allocations may be reallocated to other issuers; however, notwithstanding the 
existence of legislation allocating or reallocating all or any portion of the state ceiling, at 
any time during the period from September 1st to and including December 31st of any 
calendar year, and at any other time that the Legislature is not in session, a group 
consisting of a representative of each of the issuers specifically identified in subsections 
4, 5, 6, 7, 8 and 8-A; and a representative of the Governor designated each year by the 
Governor may, by written agreement executed by no fewer than 5 of the 6 voting 
representatives, allocate amounts not previously allocated and reallocate unused 
allocations from one of the specific issuers designated in this section to another specific 
issuer for further allocation or carryforward, with respect to the state ceiling for that 
calendar year only.  In no event may any issuer have more than one vote.  If an issuer is 
allocated a portion of the state ceiling in more than one category, the written agreement 
must be executed by no fewer than 4 of the 6 voting representatives.   Except for records 
containing specific and identifiable personal information acquired from applicants for or 
recipients of financial assistance, the records of the group of representatives described in 
this subsection are public records and the meetings of the group of representatives 
described in this subsection are public proceedings within the meaning of Title 1, chapter 
13, subchapter 1 by the Treasurer of State. 
2-A.  Recommendation of Governor and issuers.  At any time action of the 
Legislature under subsection 1-A is necessary or desirable, the Governor shall 
recommend to the appropriate committee of the Legislature a proposed allocation or 
reallocation of all or part of the state ceiling.  To assist the Governor in making a 
recommendation of proposed allocations of the state ceiling on private activity bonds, the 
group of 7 representatives described in subsection 1-A shall make a recommendation 
regarding allocation or reallocation of the state ceiling.  In order to assist the group in 
making its recommendation and to assist the Governor and the Legislature, the State 
Planning Office shall prepare an annual analysis of the State's economic outlook, 
prevailing interest rate forecasts related to tax-exempt financing by the issuers 
specifically identified in subsections 4 to 8, the availability to those issuers of alternative 
financing from sources that do not require an allocation of the state ceiling and the 
relationship of these factors and various public policy considerations to the allocation or 
reallocation of the state ceiling.  In recommending any allocation or reallocation of the 
state ceiling to the Legislature, the Governor shall consider the requests and 
recommendations of those issuers of bonds within the State designated in this section, the 
recommendations of the group of representatives described in subsection 1-A and the 
annual analysis of the State Planning Office. 
4.  Allocation to Maine State Housing Authority.  That portion of the state ceiling 
allocated under this section to the category of bonds for housing or housing-related 
purposes must be allocated to the Maine State Housing Authority, which may further 
allocate that portion of the state ceiling to bonds for housing-related projects that require 
an allocation in order to qualify as tax-exempt bonds.  Any further allocation or 
reallocation of any portion of the state ceiling from the Maine State Housing Authority to 
another specific issuer designated in this section must be done in accordance with the 
requirements in subsection 1-A made by the Treasurer of State after consultation with the 
Maine State Housing Authority. 
5.  Allocation to the Treasurer of State.  That portion of the state ceiling allocated 
under this section to the category of general obligation bonds of the State must be 
allocated to the Treasurer of State, who may further allocate that portion of the state 
ceiling to bonds of the State requiring an allocation in order to qualify as tax-exempt 
bonds.  Any further allocation or reallocation of any portion of the state ceiling from the 
Treasurer of State to another specific issuer designated in this section must be done in 
accordance with the requirements in subsection 1-A made by the Treasurer of State. 
6.  Allocation to the Finance Authority of Maine.  That portion of the state ceiling 
allocated to the category of bonds that are limited obligations of the issuer payable solely 
from the revenues of the projects financed with the proceeds of the bonds, other than for 
housing-related projects or issues included in an issue of the Maine Municipal Bond 
Bank, as well as that portion of the state ceiling allocated to bonds authorized to be issued 
by the Finance Authority of Maine pursuant to Title 20-A, chapter 417-B, must be 
allocated to the Finance Authority of Maine, which may further allocate that portion of 
the state ceiling to bonds requiring an allocation in order to qualify as tax-exempt bonds.  
Any further allocation or reallocation of any portion of the state ceiling from the Finance 
Authority of Maine to another specific issuer designated in this section must be done in 
accordance with the requirements in subsection 1-A made by the Treasurer of State after 
consultation with the Finance Authority of Maine. 
7.  Allocation to the Maine Municipal Bond Bank.  That portion of the state ceiling 
allocated to the category of bonds that are general obligations of issuers within the State, 
other than the State; that are included in bond issues of the Maine Municipal Bond Bank; 
that are included in bond issues of the Maine Public Utility Financing Bank; or that are 
qualified redevelopment bonds as defined in the United States Code, Title 26, must be 
allocated to the Maine Municipal Bond Bank, which may further allocate that portion of 
the state ceiling to bonds requiring an allocation in order to qualify as tax-exempt bonds.  
Any further allocation or reallocation of any portion of the state ceiling from the Maine 
Municipal Bond Bank to another specific issuer designated in this section must be done in 
accordance with the requirements in subsection 1-A made by the Treasurer of State after 
consultation with the Maine Municipal Bond Bank. 
8.  Allocations to the Maine Educational Loan Authority.  That portion of the state 
ceiling allocated to the issuance of bonds by the Maine Educational Loan Authority 
pursuant to Title 20-A, chapter 417-A must be allocated to the Maine Educational Loan 
Authority. Any further allocation or reallocation of any portion of the state ceiling from 
the Maine Educational Loan Authority to another issuer designated in this section must 
be made by the Treasurer of State after consultation with the Maine Educational Loan 
Authority. 
A.  Prior to issuing loans funded through an allocation of the state ceiling for the 
issuance of education loans, an issuer or lender must provide to the appropriate 
agency within the Department of Professional and Financial Regulation examples of 
the disclosures to be made to loan recipients or obligors. The information must be 
provided to the Bureau of Financial Institutions if the issuer or lender is a financial 
institution or credit union established pursuant to state or federal law or to the Bureau 
of Consumer Credit Protection for all other issuers or lenders.  This information must 
be provided to the appropriate agency within the Department of Professional and 
Financial Regulation upon request, or in the course of an examination of the issuer or 
lender by the agency, and must include a description of any interest rate or other 
discounts offered that clearly identifies all of the terms and conditions of obtaining 
any discount, a projection of the approximate number or percentage of loan obligors 
who are likely to benefit from the discounts and any other disclosures pursuant to 
guidelines established by the Bureau of Financial Institutions and the Bureau of 
Consumer Credit Protection for the issuance of education loans that would benefit 
from an allocation of the state ceiling.  The Bureau of Financial Institutions and the 
Bureau of Consumer Credit Protection shall jointly adopt, to the extent allowed by 
law, rules to carry out the provisions of this paragraph by establishing uniform 
disclosure requirements and sanctions for noncompliance.  Rules adopted pursuant to 
this paragraph are routine technical rules, as defined in Title 5, chapter 375, 
subchapter 2-A.  All information provided to the appropriate agencies within the 
Department of Professional and Financial Regulation must include the source of the 
information and the basis for any projections. 
B-1.  All education loans made under the federal Higher Education Act of 1965, 20 
United States Code, Chapter 28 that are purchased or originated with proceeds of tax-
exempt bonds using a portion of the state ceiling on private activity bonds must be 
guaranteed by the state agency designated as administrator of federal guaranteed 
student loan programs pursuant to Title 20-A, chapter 417, subchapter 1, provided 
that this requirement does not apply to serial loans of a borrower that are guaranteed 
by a different guarantee agency and acquired or financed with tax-exempt bond 
proceeds prior to the effective date of this paragraph.  The state agency designated as 
administrator of federal guaranteed student loan programs pursuant to Title 20-A, 
chapter 417, subchapter 1 shall use its best efforts to provide competitive rates for the 
guarantee function. 
8-A.  Allocations to issuer of bonds for purchase of education loans.  That portion 
of the state ceiling allocated to the categories of bonds providing funds for the purposes 
of an entity designated pursuant to Title 20-A, section 11407, must be allocated to the 
entity designated pursuant to Title 20-A, section 11407. 
A.  Prior to issuing loans funded through an allocation of the state ceiling for the 
issuance of education loans, an issuer or lender must provide to the appropriate 
agency within the Department of Professional and Financial Regulation examples of 
the disclosures to be made to loan recipients or obligors.  The information must be 
provided to the Bureau of Financial Institutions, Department of Professional and 
Financial Regulation if the issuer or lender is a financial institution or credit union 
established pursuant to state or federal law or to the Bureau of Consumer Credit 
Protection, Department of Professional and Financial Regulation for all other issuers 
or lenders.  This information must be provided to the appropriate agency within the 
Department of Professional and Financial Regulation upon request, or in the course 
of an examination of the issuer or lender by the agency, and must include a 
description of any interest rate or other discounts offered that clearly identifies all of 
the terms and conditions of obtaining any discount, a projection of the approximate 
number or percentage of loan obligors who are likely to benefit from the discounts 
and any other disclosures pursuant to guidelines established by the Bureau of 
Financial Institutions and the Bureau of Consumer Credit Protection for the issuance 
of education loans that would benefit from an allocation of the state ceiling.  The 
Bureau of Financial Institutions and the Bureau of Consumer Credit Protection shall 
jointly adopt, to the extent allowed by law, rules to carry out the provisions of this 
paragraph by establishing uniform disclosure requirements and sanctions for 
noncompliance.  Rules adopted pursuant to this paragraph are routine technical rules, 
as defined in Title 5, chapter 375, subchapter 2-A.  All information provided to the 
appropriate agencies within the Department of Professional and Financial Regulation 
must include the source of the information and the basis for any projections. 
9.  Use of carryforward.  In the event that any issuer has made a carryforward 
election under the United States Code, Title 26, Section 146(f), as amended, the issuer 
shall use, to the extent possible and consistent with the purpose for which the 
carryforward was elected, the carryforward for issues subject to the state ceiling prior to 
allocating any portion of the state ceiling for the applicable calendar year to the issue.  To 
the extent permitted by federal law, a group consisting of a representative of each of the 
issuers specifically identified in subsections 4 to 7; a representative of a corporation 
created pursuant to former Title 20, section 2237 and Title 20-A, section 11407; and a 
representative of the Governor designated each year by the Governor may reallocate, by 
written agreement executed by no fewer than 4 of the 5 voting representatives, 
carryforward amounts from one of the specific issuers designated in this section to 
another specific issuer. 
10.  Allocation for benefit of State.  All of the allocation of the state ceiling must be 
used for a purpose that benefits individuals, communities or businesses in this State.  For 
purposes of this subsection, a bond issuance is presumed to benefit individuals, 
communities or businesses in this State if it benefits business operations located in this 
State, residents of this State, students attending institutions of higher education in this 
State, residents of this State attending institutions of higher education outside this State, 
municipalities in this State or programs predominantly for the provision of benefits for 
residents of this State.   A student eligible to receive the benefit of a portion of the state 
ceiling remains eligible for student loans notwithstanding any changes in residency or 
institution attended. 
11.  Annual review.  By March 15th of each year, each issuer identified in 
subsections 4 to 8 shall deliver a report to the Governor, the group of representatives 
described in subsection 1-A Treasurer of State. By March 31st of each year, the Treasurer 
of State shall provide a report to the Governor and the joint standing committee 
committees of the Legislature having jurisdiction over business appropriations and 
financial affairs and labor, commerce, research and economic development matters.  Each 
report must include, without limitation, a review of what bonds have been issued in the 
most recent year, how the state ceiling was allocated or carried forward, a demonstration 
of the benefits to the State of the allocation of the state ceiling to such issuer for the most 
recent year and a demonstration that allocation of the state ceiling is necessary to fulfill 
an unmet need for financing by the private sector.  In addition, each report must be 
accompanied by the most recent annual audited financial statements of the issuer and, if 
any tax-exempt bonds were issued during the most recent year, by a letter from an 
independent accountant addressing the savings attributable to the use of tax-exempt 
financing and how that savings was passed on to the entities or individuals benefiting 
from the bond proceeds. The joint standing committees of the Legislature may submit 
legislation related to the report. 
Sec. 6.  23 MRSA §1612, as enacted by PL 2007, c. 329, Pt. P, §1, is amended by 
adding after the first paragraph a new paragraph to read: 
GARVEE bonds must be approved by the legal voters of the State at a statewide 
election including the amount to be borrowed and the specific purpose for the bond. 
Sec. 7.  23 MRSA §1965, sub-§1, ¶M, as enacted by PL 1981, c. 595, §3, is 
amended to read: 
M.    Borrow money, make, issue and sell at public or private sale negotiable notes, 
bonds and other evidences of indebtedness or obligations of the authority for the 
purposes set forth in this chapter and secure the payment of that obligation or any part 
thereof by pledge of all or any part of the operating revenues of the turnpike.   All 
bonded indebtedness must be approved by the legal voters of the State at a statewide 
election including the amount to be borrowed and the specific purpose for the bond; 
Sec. 8.  23 MRSA §1965, sub-§2, ¶A, as amended by PL 1999, c. 177, §1, is 
further amended to read: 
A.    Members of the authority are appointed by the Governor, subject to review by 
the joint standing committee of the Legislature having jurisdiction over transportation 
and subject to confirmation by the Legislature.  The Commissioner of Transportation 
is a member and the State Treasurer are members ex officio.  The Commissioner of 
Transportation may designate a deputy, director, assistant or other officer or 
employee of the department to represent the Commissioner of Transportation at 
meetings of the authority with full power to act and vote on behalf of the 
Commissioner of Transportation.  The Deputy State Treasurer may represent the 
State Treasurer at meetings of the authority with full power to act and vote on behalf 
of the State Treasurer. Upon the expiration of the term of office of any member, the 
Governor shall appoint a new member who serves in office for a term of 7 years and 
until a successor is duly appointed and qualified, and any member of the authority is 
eligible for reappointment.  In the event of a vacancy in the membership of the 
authority caused by the death, incapacity, resignation or removal of a member, the 
Governor shall appoint a member to fill that vacancy only for the unexpired term of 
office of the member whose death, incapacity, resignation or removal created the 
vacancy, but the newly appointed member may be reappointed at the end of the 
unexpired term in accordance with this subsection.  In all events, a member may not 
be appointed to the authority who is not a resident of the State at the time of the 
appointment and qualification, or who has not been a qualified voter in the State for a 
period of at least one year next preceding the appointment. 
Sec. 9.  23 MRSA §1965, sub-§2, ¶A-1, as enacted by PL 1999, c. 177, §2, is 
amended to read: 
A-1.    The authority consists of the Commissioner of Transportation and the State 
Treasurer, who is an are ex officio member members, and: 
 (1)  Four members appointed by the Governor pursuant to paragraph A.  Three 
members of the authority constitute a quorum and 3 votes are required for the 
authority to act on any matter, although a lesser number may adjourn a meeting; 
 (2)  On and after August 1, 2000, 5 members appointed by the Governor 
pursuant to paragraph A.  Three members of the authority constitute a quorum 
and 3 votes are required for the authority to act on any matter, although a lesser 
number may adjourn a meeting; and 
 (3)  On and after August 1, 2002, 6 members appointed by the Governor 
pursuant to paragraph A.  After August 1, 2002, 4 members of the authority 
constitute a quorum and 4 votes are required for the authority to act on any 
matter, although a lesser number may adjourn a meeting. 
Sec. 10.  23 MRSA §1968, sub-§1, as amended by PL 2007, c. 270, §3, is further 
amended to read: 
1.  Turnpike revenue bonds.  In addition to bonds outstanding pursuant to any other 
provision of this chapter, the authority may provide by resolution from time to time for 
the issuance of turnpike revenue bonds, including notes or other evidences of 
indebtedness or obligations defined to be bonds under this chapter, but not exceeding 
$486,000,000 in the principal amount at any one time outstanding exclusive of 
refundings, for any purpose described in section 1969, subsection 1. All bonded 
indebtedness must be approved by the legal voters of the State at a statewide election 
including the amount to be borrowed and the specific purpose for the bond. 
Sec. 11.  30-A MRSA §6006-G, sub-§3, as enacted by PL 2007, c. 470, Pt. D, 
§1, is amended to read: 
3.  Bond terms; authorized levels.  Bonds issued pursuant to this section may not 
have terms of more than 15 years.  Commencing with the budget presented for the fiscal 
year beginning July 1, 2009, each new authorization of TransCap revenue bonding must 
be presented for review and approval by the Legislature as part of the Highway Fund 
budget and must be approved by the legal voters of the State at a statewide election 
including the amount to be borrowed and the specific purpose for the bond. 
SUMMARY 
This bill requires that bonded indebtedness created or authorized by the Legislature 
either directly or through any authority created by the Legislature must be approved by 
the voters, unless exempted from the requirement. 
The bill requires that all bonds authorized by the Legislature or sold by an authority 
created by the Legislature must be sold in a competitive sale, unless an alternative mode 
of sale is approved by the authority board and approved by the State Treasurer based on 
market conditions. 
The bill requires that the total cost of principal and interest that will be paid at 
maturity per person based on the State's population from the latest Federal Decennial 
Census be added to the State Treasurer's statement that accompanies bonds on the ballot. 
The bill authorizes the State Treasurer to allocate and reallocate available amounts of 
private activity tax-exempt bond authority authorized by 26 United States Code among 
issuers and then report to the Governor and the joint standing committees of the 
Legislature having jurisdiction over appropriations and financial affairs and labor, 
commerce, research and economic development matters, which have the authority to 
submit legislation based on the report. 
This bill adds the State Treasurer as an ex officio member of the Maine Turnpike 
Authority.