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_B_S447 (Senate)

COMMITTEE AMENDMENT "B " 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 by striking out all of subsection 4 (page 2, lines 
to 19 in L.D.) and inserting the following: 
'4. STEM student. "STEM student" means an undergraduate or graduate student 
who is a resident of the State and is engaged in the study of science, computer science, 
technology, engineering or mathematics at an accredited institution of higher education in 
the State eligible to receive federal assistance under a federal student assistance program 
authorized under the federal Higher Education Act of 1965, Title IV and has been 
selected by the authority pursuant to section 12922 to receive a loan. "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 in 
the State eligible to receive federal assistance under a federal student assistance program 
authorized under the federal Higher Education Act of 1965, Title IV and has been 
selected by the authority pursuant to section 12922 to receive a loan.' 
Amend the bill in section I 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: '1' 
Amend the bill in section I 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 I in § 12922 by striking out all of subsection 3 (page 2, lines 
to 5 in L.D.) and inserting the following: 
COMMITTEE AMENDMENT 
... •" 
I 
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COMMITTEE AMENDMENT" B "to S.P. 676, L.D. 1655 
'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 striking 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' 
Amend the bill by striking 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 
This amendment, which is the minority report of the committee, adds high school 
seniors to the definition of "STEM student" under the Maine Science, Technology, 
Engineering and Mathematics Loan Program and requires that the institution of higher 
education be in this State. 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 working 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 ;Wac.. 
LD 1655 
LR2721(03) 
An Act To Increase the Number of Science, Technology, Engineering and Mathematics Professionals 
in the State 
Fiscal Detail and Notes 
Fiscal Note for Bill as Amended by Committee Amendment '1S' (s-~Y 7) 
Committee: Education and Cultural Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
Creates new loan program - Finance Authority of Maine 
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 in the bill. 
LR2721(03)- Fiscal Note - Page 1 of 1