An Act To Combine Outstanding Student Loan Debt with a Home Mortgage
Maine Legislature, Session 127, LD 0336
Committee Amendment CA_A_H30 (House)

COMMITTEE AMENDMENT ,,4 " to H.P. 230, L.D. 336, Bill, "An Act To 
Combine Outstanding Student Loan Debt with a Home Mortgage" 
Amend the bill by striking out the title and substituting the following: 
'Resolve, Directing the Finance Authority of Maine To Convene a Stakeholder 
Group To Develop Solutions To Reduce the Negative Effect of Student Loan Debt 
on Home Ownership' 
Amend the bill by striking out everything after the title and before the summary and 
inserting the following: 
'Sec. 1. 
Finance Authority of Maine to convene stakeholder group. 
Resolved: That the Finance Authority of Maine, referred to in this resolve as "the 
authority," shall convene a stakeholder group to study the issues surrounding outstanding 
student loan debt and its negative effect on the ability of residents of the State to own 
homes and to develop solutions to reduce outstanding student loan debt to facilitate home 
ownership. The authority shall invite the participation of Legislators; the Department of 
Professional and Financial Regulation, Bureau of Financial Institutions and Bureau of 
Consumer Credit Protection; the Maine State Housing Authority; and representatives of 
financial institutions, credit unions, mortgage lenders, real estate agents and brokers, 
students and other interested parties; and be it further 
Sec. 2. Report. Resolved: That, no later than January 1,2016, the authority shall 
report the findings and recommendations of the study under section 1 along with any 
suggested legislation to the Joint Standing Committee on Insurance and Financial 
Services. The Joint Standing Committee on Insurance and Financial Services may submit 
a bill related to the subject matter of the report to the Second Regular Session of the 
I27th Legislature.' 
SUMMARY 
This amendment replaces the bill with a resolve that directs the Finance Authority of 
Maine to convene a stakeholder group to study the issues surrounding outstanding student 
COMMITTEE AMENDMENT 
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COMMITTEE AMENDMENT" ~ " to H.P. 230, L.D. 336 
loan debt and its negative effect on the ability of Maine residents to purchase homes. The 
amendment requires that the authority report the findings and recommendations of the 
stakeholder group, including suggested legislation, to the Joint Standing Committee on 
Insurance and Financial Services nb later than January 1, 2016. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE ,AMENDMENT 
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Approved: 03/20/15 
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LD336 
LR 393(02) 
An Act To Combine Outstanding Student Loan Debt with a Home Mortgage 
Fiscal Note for Bill as Amended by Committee Amendment lifo ( H" 3 0 ) 
Committee: Insurance and Financial Services 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Other Special Revenue Funds 
Minor cost increase - Other funds 
Additional costs to the Finance Authority of Maine associated with covening the stakeholder group to perform the 
required study and submit the required report can be absorbed within existing budgeted resources. 
Additional costs to the Bureau of Financial Institutions and the Bureau of Consumer Credit, within the Department of 
Professional and Financial Regulation, and the Maine State Housing Authority to participate in the stakeholder group 
can be absorbed within each agency's existing budgeted resources. 
LR0393(02) - Fiscal Note - Page 1 of 1