An Act To Increase the Number of Science, Technology, Engineering and Mathematics Professionals in the State
Maine Legislature, Session 127, LD 1655
Committee Amendment CA_A_S446 (Senate)

COMMITTEE AMENDMENT "A,, to S.P. 676, L.D. 1655, Bill, "An Act To 
Increase the Number of Science, Technology, Engineering and Mathematics 
Professionals in the State" 
Amend the bill in section 1 in chapter 439 in the 3rd line (page 1, line 5 in L.D.) by 
striking out the following: "AND LOAN REPAYMENT PROGRAMS" and inserting 
the following: 'PROGRAM' 
Amend the bill in section 1 in §12921 in subsection 4 in the last line (page 1, line 19 
in L.D.) by inserting after the following: "loan." the following: "'STEM student" also 
means a high school senior committed to the study of science, computer science, 
technology, engineering or mathematics at an accredited institution of higher education 
eligible to receive federal assistance under a federal student assistance program 
authorized under the federal Higher Education Act of 1965, Title N and has been 
selected by the authority pursuant to section 12922 to receive a loan.' 
Amend the bill in section 1 in §12922 in the first paragraph in the last line (page 1, 
line 25 in L.D.) by striking out the following: "1" and inserting the following: ·~· 
Amend the bill in section 1 in §12922 in the first paragraph in the last line (page 1, 
line 25 in L.D.) by inserting after the following: "students." the following: 'As used in 
this section, "employed in the field of science, computer science, technology, engineering 
or mathematics" includes a person employed as an educator in any of those fields.' 
Amend the bill in section 1 in §12922 by strildng out all of subsection 3 (page 2, lines 
to 5 in L.D.) and inserting the following: 
'3. Annual interest rate of 8%. A STEM student may receive a loan bearing an 
annual interest rate of 8% if the student does not remain in or return to the State to live 
and work upon graduation.' 
Amend the bill in section 1 in§ 12923 in subsection 2 in the 3rd and 4th lines (page 2, 
lines 12 and 13 in L.D.) by strildng out the following: "by the State, funds granted by the 
commissioner pursuant to section 15689-A, subsection 27" and inserting the following: 
'by the Legislature to the fund' 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT" A" to S.P. 676, L.D. 1655 
Amend the bill by strildng out all of section 2 and inserting the following: 
'Sec. 2. Report. The Finance Authority of Maine shall submit a report to the joint 
standing committee of the Legislature having jurisdiction over education and cultural 
affairs that includes information and data demonstrating how effective the loan program 
established under the Maine Revised Statutes, Title 20-A, chapter 439 is at encouraging 
and providing incentives to students to work in science, computer science, technology, 
engineering or mathematics fields in the State, including possibilities for achieving 
greater retention of students in those fields. The authority shall submit its report to the 
joint standing committee by January 15th of the 5th year after the loan program begins 
awarding loans.' 
SUMMARY 
The amendment adds high school seniors to the definition of "STEM student" under 
the Maine Science, Technology, Engineering and Mathematics Loan Program. 
The 
amendment changes the maximum loan term from 4 years to 5 years and strikes a 
reference to loans bearing an annual interest rate of 8% being available to students who, 
upon graduation, are not employed in the field of science, computer science, technology, 
engineering or mathematics. This amendment allows a person who is worldng as an 
educator in the field of science, computer science, technology, engineering or 
mathematics to qualify for a 0% interest rate. This amendment removes the authority for 
the Commissioner of Education to grant funds to the Maine Science, Technology, 
Engineering and Mathematics Loan Fund. This amendment adds a requirement that the 
Finance Authority of Maine submit a report regarding the effectiveness of the program to 
the joint standing committee of the Legislature having jurisdiction over education and 
cultural affairs by January 15th of the 5th year after the loan program begins awarding 
loans. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 03/23/16 
feac. 
LD 1655 
LR 2721(02) 
An Act To Increase the Number of Science, Technology, Engineering and Mathematics Professionals 
in the State 
Fiscal Note for Bill as Amended by Committee Amendment "A' f5 ... 4 y0 
Committee: Education and Cultural Affairs 
l'": 
J 
Fiscal Note Required: Yes 
Fiscal Note 
Creates new loan program - Finance Authority of Maine 
Fiscal Detail and Notes 
This legislation establishes the Maine Science, Technology, Engineering and Mathematics Loan Program within the 
Finance Authority of Maine (FAME) to provide loans of up to $7 ,500 to eligible students in the fields of science, 
computer science, technology, engineering and mathematics. A fund is established to receive money from gifts, 
grants, bequests and donations, in addition to money appropriated or allocated by the Legislature and any federal 
funds received by the State for this purpose. Administration costs of FAME will be reimbursed from interest received 
on fund balances. FAME has indicated that it will be able to implement and administer the program within the 
provisions established m the bill. 
LR2721(02) - Fiscal Note - Page 1 of 1