An Act To Attract Skilled Professionals and Young Families to Maine
Maine Legislature, Session 127, LD 1288
Committee: Labor, Commerce, Research and Economic Development
Sponsors: ALFOND, ESPLING, HASKELL, KATZ, LIBBY, MILLETT, VOLK
Amends: 5 MRSA §13062-B

Legislative Document 
No. 1288 
S.P. 463 
In Senate, April 9, 2015 
An Act To Attract Skilled Professionals and Young Families to 
Maine 
Reference to the Committee on Labor, Commerce, Research and Economic Development 
suggested and ordered printed. 
HEATHER J.R. PRIEST 
Secretary of the Senate 
Presented by Senator ALFOND of Cumberland. 
Cosponsored by Representative ESPLING of New Gloucester and 
Senators: HASKELL of Cumberland, KATZ of Kennebec, LIBBY of Androscoggin, 
MILLETT of Cumberland, VOLK of Cumberland. 
Be it enacted by the People of the State of Maine as follows: 
Sec. 1.  5 MRSA §13062-B is enacted to read: 
§13062-B.  New American Start-up Fund 
1.  Definitions.  As used in this section, unless the context otherwise indicates, the 
following terms have the following meanings. 
A.  "Immigrant" means a person who is not a native to the United States who has 
moved to the State and is or intends to become a permanent resident or citizen of the 
United States; and 
B.  "Refugee"  means a person who lives outside of the person's country because the 
person has suffered or feared persecution in the person's country on account of race, 
religion, nationality or political opinion, because the person is a member of a 
persecuted social category of persons or because the person is fleeing a war. 
2.  New American Start-up Fund.  The New American Start-up Fund, referred to in 
this section as "the fund," administered by the department, is established to carry out the 
purposes under subsection 3.  The fund consists of appropriations or allocations for 
inclusion in the fund, any money received as contributions or grants from private and 
public sources, any money received in repayment of loans from the fund and all interest, 
dividends or other pecuniary gains from investment of funds from the fund.  The fund, to 
be accounted for within the department, must be held separate and apart from all other 
money, funds and accounts. Any balance remaining in the fund at the end of a fiscal year 
does not lapse but must be carried forward to the next fiscal year. 
3.  Fund purposes.  The purposes of the fund include providing: 
A.  Capital financing for a start-up and expanding business owned by a low-income 
immigrant or refugee in the State.  Capital financing provided under this section may 
be in the form of an interest-bearing loan or, if required by the person's religious 
faith, in the form of a noninterest-bearing fee-for-service loan; and 
B.  Operational support for a nonprofit corporation incorporated in the State under 
Title 13-B for a program that assists low-income immigrants and refugees in starting 
and developing businesses. 
4.  Outside contract.  The department shall contract the administration of subsection 
3, paragraph A to a nonprofit corporation incorporated in the State under Title 13-B that 
assists low-income immigrants and refugees in starting and developing businesses. 
Sec. 2.  Appropriations and allocations.  The following appropriations and 
allocations are made. 
ECONOMIC AND COMMUNITY DEVELOPMENT, DEPARTMENT OF 
New American Start-up Fund 
Initiative:  Provides funds to capitalize a loan program for start-up and development of 
businesses owned by immigrants and refugees. 
New American Start-up Fund 
Initiative:  Provides operational support for a nonprofit corporation incorporated in the 
State for a program that assists low-income immigrants and refugees in starting and 
developing businesses. 
SUMMARY 
This bill creates and capitalizes the New American Start-up Fund administered by the 
Department of Economic and Community Development to provide loans to assist 
immigrants and refugees to start or expand businesses and to provide operational support 
to a nonprofit corporation that assists low-income immigrants and refugees in starting and 
developing businesses. 
GENERAL FUND 
2015-16
2016-17
All Other 
$250,000
$0
GENERAL FUND TOTAL 
$250,000
$0
GENERAL FUND 
2015-16
2016-17
All Other 
$150,000
$150,000
GENERAL FUND TOTAL 
$150,000
$150,000
ECONOMIC AND COMMUNITY 
DEVELOPMENT, DEPARTMENT OF  
DEPARTMENT TOTALS 
2015-16
2016-17
GENERAL FUND 
$400,000
$150,000
DEPARTMENT TOTAL - ALL FUNDS 
$400,000
$150,000