An Act To Authorize a General Fund Bond Issue To Support the Maine Technology Institute's Action Plan Implementation
Maine Legislature, Session 126, LD 1223
Committee Amendment CA_A_S557 (Senate)

COMMITTEE AMENDMENT "A " to S.P. 421, L.D. 1223, Bill, "An Act To 
Authorize a General Fund Bond Issue To Support the Maine Technology Institute's 
Action Plan Implementation" 
Amend the bill by striking out the title and substituting the following: 
'An Act To Authorize a General Fund Bond Issue To Support Human Health 
Research in Maine' 
Amend the biII by striking out everything after the enacting clause and before the 
summary and inserting the following: 
'Sec. 1. 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 $3,000,000 for the purposes described in section 5 of this Act. 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. 
Sec. 2. Records of bonds issued; Treasurer of State. The Treasurer of State 
shall ensure that an account of each bond is kept 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. 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 Act. Any unencumbered balances remaining at the completion of the project 
in this Act lapse to the Office of the Treasurer of State to be used for the retirement of 
general obligation bonds. 
Sec. 4. Interest and debt retirement. The Treasurer of State shall pay interest 
due or accruing on any bonds issued under this Act and all sums coming due for payment 
of bonds at maturity. 
COMMITTEE AMENDMENT 
...... ·s 
~o~ 
COMMITTEE AMENDMENT "An to S.P. 421, LD. 1223 
Sec. 5. Disbursement of bond proceeds from General Fund bond issue. 
The proceeds of the sale of the bonds authorized under this Act must be expended as . 
designated in the following schedule under the direction and supervision of the agencies 
and entities set forth in this section. 
ECONOMIC AND COMMUNITY 
DEVELOPMENT, DEPARTMENT OF 
Maine Technology Institute 
Provides funds, to be awarded through a competitive process to institutions that, as of 
the effective date of this Act, have been designated as Centers of Biomedical 
Research Excellence by the United States Department of Health and Human Services, 
National Institutes of Health, National Institute of General Medical Sciences and 
have also received IDeA Network of Biomedical Research Excellence grants and to 
be matched by $5,700,000 in private and public funds, to modernize and expand 
infrastructure in a biological laboratory specializing in tissue repair and regeneration 
located in the State, in order to increase biotechnology workforce training, retain and 
recruit to the State multiple biomedical research and development groups and create a 
drug discovery and development facility that will improve human health and 
stimulate biotec'mology job growth and economic activity. 
Total 
$3,000,000 
Sec. 6. Contingent upon ratification of bond issue. Sections 1 to 5 do not 
become effective unless the people of the State ratifY the issuance of the bonds as set 
forth in this Act. 
Sec. 7. 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 the Office of the Treasurer of State to be used for the retirement of general 
obligation bonds. 
Sec. 8. Bonds authorized but not issued. Any bonds authorized but not issued 
within 5 years of ratification of this Act 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 for an additional amount of time not 
to exceed 5 years. 
Sec. 9. Report. The Department of Economic and Community Development shall 
report by January 15th annually, until the bond proceeds authorized by this Act have been 
fully expended, to the joint standing committees of the Legislature having jurisdiction 
over appropriations and financial affairs and research and economic development matters. 
Sec. 10. Referendum for ratification; submission at election; form of 
question; effective date. This Act must be submitted to the legal voters of the State at 
a statewide election held in the month of November following passage of this Act. The 
municipal officers of this State shall notifY the inhabitants of their respective cities, towns 
COMMITTEE AMENDMENT 
.~ 
---'-
RO't'~ 
~ 
COMMITTEE AMENDMENT "A "to S.P. 421, L.D. 1223 
and plantations to meet, in the manner prescribed by law for holding a statewide election, 
to vote on the acceptance or rejection of this Act by voting on the following question: 
"Do you favor a $3,000,000 bond issue, to be awarded through a 
competitive process and to be matched by $5,700,000 in private and 
public funds, to modernize and expand infrastructure in a biological 
laboratory specializing in tissue repair and regeneration located in the 
State in order to increase biotechnology workforce training, retain and 
recruit to the State multiple biomedical research and development groups 
and create a drug discovery and development facility that will improve 
human health and stimulate biotechnology job growth and economic 
activity?" 
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. If a majority of the legal votes are cast in favor of this Act, the 
Governor shall proclaim the result without delay and this Act 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 Act necessary to carry out the purposes of this 
referendum.' 
SUMMARY 
This amendment strikes and replaces the bill. 
Under this amendment, the funds 
provided by the bond issue, in the amount of $3,000,000, will be matched by $5,700,000 
in private and public funds and will be awarded through a competitive process to 
institutions that have been designated as Centers of Biomedical Research Excellence and 
have also received IDeA Network of Biomedical Research Excellence grants and will be 
used to modernize and expand the infrastructure in a biological laboratory specializing in 
tissue repair and regeneration located in Maine in order to increase workforce training, to 
retain and recruit to Maine biomedical research groups and to create a drug discovery and 
development facility. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 04117114 
~ac. 
LD 1223 
LR 1291(02) 
. An Act To Authorize a General Fund Bond Issue To Support the Maine Technology Institute's Action 
Plan Implementation 
Bond Issues 
Fiscal Note for Bill as Amended by Committee Amendment '}!\" (s - 551) 
Committee: Appropriations and Financial Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
Current biennium cost increase - General Fund 
Term (years) 
Principal 
Rate (%) 
Interest 
Total Cost 
General Fund - Taxable 
$3,000,000 
4.5% 
$742,500 
$3,742,500 
Referendum Costs 
Month/Year 
Election Type 
Question 
Length 
Nov-14 
General 
Bond Issue 
Standard 
The Secretary of State's budget includes sufficient funds to accommodate one ballot of average length for the general 
election in November. If the number or size ofthe referendum questions requires production and delivery of a second 
ballot, an additional appropriation of $107,250 may be required. 
T D 1 '101 ((\")\ 
C~",.,.nl1\T("\h:>. 
D~n-.o 1 "f 1 
i