An Act To Authorize a General Fund Bond Issue To Assist in the Commercialization of Maine Products and Services
Maine Legislature, Session 128, LD 1613
Committee Amendment CA_A_S335 (Senate)

COMMITTEE AMENDMENT "A" to S.P. 568, L.D. 1613, Bill, "An Act To 
Authorize a General Fund Bond Issue To Assist in the Commercialization of Maine 
Products and Services" 
Amend the bill in section 1 in the 3rd line (page 1, line 8 in L.D.) by striking out the 
following: "$50,000,000" and inserting the following: '$55,000,000' 
Amend the bill in section 5 by striking out all of that part designated "ECONOMIC 
AND COMMUNITY DEVELOPMENT, DEPARTMENT OF" (page 2, lines 13 to 26 
in L.D.) and inserting the following: 
ECONOMIC AND COMMUNITY 
DEVELOPMENT, DEPARTMENT OF 
Maine Technology Institute 
Provides funds to create a new fund, the Baxter Innovation Challenge Fund, 
administered by the Department of Economic and Community Development in 
consultation with the Maine Technology Institute. The fund will focus on technology 
sectors with a particular emphasis on identifying and addressing challenges facing 
traditional industries in the State. 
Additionally, the fund will leverage at least 
$30,000,000 in other funds to repurpose and use existing infrastructure to facilitate 
the continued growth of businesses and commercial enterprises that grow the State's 
economy and create new jobs. 
Total 
$30,000,000 
Provides funds to institutions specializing in tissue repair and regeneration located in 
the State that have been designated as Centers of Biomedical Research Excellence 
and designated to lead the Maine IDeA Network of Biomedical Research Excellence, 
sponsored by the United States Department of Health and Human Services, National 
COMMITTEE AMENDMENT 
•"' 
~ 
COMMITTEEAMENDMENT"A "to S.P. 568, L.D. 1613 
Institutes of Health, National Institute of General Medical Sciences. The funds will 
be used to repurpose and develop existing infrastructure, laboratory spaces and 
equipment required by start-up life science companies to grow the State's economy 
and create new jobs. These funds must be used to leverage an additional $5,000,000 
in public and private grants. 
Total 
$5,000,000 
Amend the bill in section 9 in the 3rd line (page 3, line 5 in L.D.) by striking out the 
following: "June" and inserting the following: 'November' 
Amend the bill in section 9 in the bond question in the first line (page 3, line 9 in 
L.D.) by striking out the following: "$50,000,000" and inserting the following: 
'$55,000,000' 
SUMMARY 
This amendment increases the amount of the bond from $50,000,000 to $55,000,000 
and provides $5,000,000 for biomedical research. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 07/19/17 feac 
LD 1613 
LR 2250(02) 
An Act To Authorize a General Fund Bond Issue To Assist in the Commercialization of Maine 
Products and Services 
Bond Issues 
Fiscal Note for Bill as Amended by Committee Amendment ''A' ( S. · 3 '3 0 
Committee: Appropriations and Financial Affairs 
Fiscal Note Required: Yes 
Fiscal Note 
General Fund - Taxable 
Term (years) 
Principal 
$55,000,000 
Rate(%) 
4.75% 
Interest 
$14,368,750 
Total Cost 
$69,368,750 
Referendum Costs 
Month/Year 
Election Type 
Question 
Length 
Nov-17 
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 of the referendum questions requires production and delivery of a second 
ballot, an additional appropriation of $107,250 may be required. 
LR2250(02) - Fiscal Note - Page 1 of 1