An Act To Authorize a General Fund Bond Issue for the Protection and Enhancement of Water Quality, Support of Environmental Clean-up Efforts and Provision of Loans for the Residential Purchase of High-performance Air Source Heat Pumps
Maine Legislature, Session 129, LD 1847
Committee: Appropriations and Financial Affairs
Sponsors: BREEN

Legislative Document
No. 1847
S.P. 631
In Senate, August 26, 2019
An Act To Authorize a General Fund Bond Issue for the Protection 
and Enhancement of Water Quality, Support of Environmental 
Clean-up Efforts and Provision of Loans for the Residential 
Purchase of High-performance Air Source Heat Pumps
Reference to the Committee on Appropriations and Financial Affairs suggested and ordered 
printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator BREEN of Cumberland.  (GOVERNOR'S BILL)
Preamble. Two thirds of both Houses of the Legislature deeming it necessary in 
accordance with the Constitution of Maine, Article IX, Section 14 to authorize the 
issuance of bonds on behalf of the State of Maine to provide funds as described in this 
Act,
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  Authorization of bonds.  The Treasurer of State is authorized, under the 
direction of the Governor, to issue bonds in the name and on behalf of the State in an 
amount not exceeding $15,000,000 for the purposes described in section 5 of this Act.  
The bonds are a pledge of the full faith and credit of the State.  The bonds may not run for 
a period longer than 10 years from the date of the original issue of the bonds.
Sec. 2.  Records of bonds issued; Treasurer of State. The Treasurer of State 
shall ensure that an account of each bond is kept showing the number of the bond, the 
name of the successful bidder to whom sold, the amount received for the bond, the date of 
sale and the date when payable.
Sec. 3.  Sale; how negotiated; proceeds appropriated.  The Treasurer of State 
may negotiate the sale of the bonds by direction of the Governor, but no bond may be 
loaned, pledged or hypothecated on behalf of the State.  The proceeds of the sale of the 
bonds, which must be held by the Treasurer of State and paid by the Treasurer of State 
upon warrants drawn by the State Controller, are appropriated solely for the purposes set 
forth in this Act.  Any unencumbered balances remaining at the completion of the project 
in this Act lapse to the Office of the Treasurer of State to be used for the retirement of 
general obligation bonds.
Sec. 4.  Interest and debt retirement.  The Treasurer of State shall pay interest 
due or accruing on any bonds issued under this Act and all sums coming due for payment 
of bonds at maturity.
Sec. 5.  Disbursement of bond proceeds from General Fund bond issue.  
The proceeds of the sale of the bonds authorized under this Act must be expended as 
designated in the following schedule under the direction and supervision of the 
Department of Environmental Protection and the Efficiency Maine Trust as set forth in 
this section.
The Efficiency Maine Trust shall use funds provided pursuant to the General Fund 
bond issue authorized under this Act to establish a revolving loan fund to finance loans 
for the purchase and installation of high-performance air source heat pumps installed in 
Maine residences through a program established under and in compliance with the Maine 
Revised Statutes, Title 35-A, section 10119, subsection 2. The Efficiency Maine Trust 
shall give consideration to addressing barriers to accessing market-based financing.
Provides funds for state match on federal superfund sites, uncontrolled hazardous 
substance site investigation and remediation and response actions at sites 
contaminated with emerging pollutants, such as perfluoroalkyl and polyfluoroalkyl 
substances, at dry cleaner sites and at brownfield sites. 
Provides funds for wastewater treatment facility planning, construction grants and 
hydrographic modeling, prioritizing areas with high-value shellfish resources. 
Provides funds to establish a revolving loan fund for the purchase and installation of 
high-performance air source heat pumps in Maine residences.
Sec. 6.  Contingent upon ratification of bond issue.  Sections 1 to 5 do not 
become effective unless the people of the State ratify the issuance of the bonds as set 
forth in this Act.
Sec. 7.  Appropriation balances at year-end.  At the end of each fiscal year, all 
unencumbered appropriation balances representing state money carry forward.  Bond 
proceeds that have not been expended within 10 years after the date of the sale of the 
bonds lapse to the Office of the Treasurer of State to be used for the retirement of general 
obligation bonds.
ENVIRONMENTAL PROTECTION, 
DEPARTMENT OF
Uncontrolled hazardous substance site 
program
Total
$5,000,000
Wastewater treatment facility planning 
and construction grants
Total
$5,000,000
EFFICIENCY MAINE TRUST
Heat pump revolving loan fund
Total
$5,000,000
Sec. 8.  Bonds authorized but not issued.  Any bonds authorized but not issued 
within 5 years of ratification of this Act are deauthorized and may not be issued, except 
that the Legislature may, within 2 years after the expiration of that 5-year period, extend 
the period for issuing any remaining unissued bonds for an additional amount of time not 
to exceed 5 years.
Sec. 9.  Referendum for ratification; submission at election; form of 
question; effective date.  This Act must be submitted to the legal voters of the State at 
a statewide election held in the month of November following passage of this Act.  The 
municipal officers of this State shall notify the inhabitants of their respective cities, towns 
and plantations to meet, in the manner prescribed by law for holding a statewide election, 
to vote on the acceptance or rejection of this Act by voting on the following question:
"Do you favor a $15,000,000 bond issue to protect Maine's environment 
by protecting and enhancing water quality, supporting environmental 
clean-up efforts and providing loans for the purchase of high-
performance air source heat pumps for use in Maine residences?"
The legal voters of each city, town and plantation shall vote by ballot on this question 
and designate their choice by a cross or check mark placed within a corresponding square 
below the word "Yes" or "No."  The ballots must be received, sorted, counted and 
declared in open ward, town and plantation meetings and returns made to the Secretary of 
State in the same manner as votes for members of the Legislature.  The Governor shall 
review the returns.  If a majority of the legal votes are cast in favor of this Act, the 
Governor shall proclaim the result without delay and this Act becomes effective 30 days 
after the date of the proclamation.
The Secretary of State shall prepare and furnish to each city, town and plantation all 
ballots, returns and copies of this Act necessary to carry out the purposes of this 
referendum.
SUMMARY
This bill authorizes a General Fund bond issue of $15,000,000 to be used as follows:
1.  To provide $5,000,000 for state match on federal superfund sites, uncontrolled 
hazardous substance site investigation and remediation and response actions at sites 
contaminated with emerging pollutants, such as perfluoroalkyl and polyfluoroalkyl 
substances, at dry cleaner sites and at brownfield sites;
2. To provide $5,000,000 for wastewater treatment facility planning, construction 
grants and hydrographic modeling, prioritizing areas with high-value shellfish resources; 
and
3.  To provide $5,000,000 to establish a revolving loan fund for the purchase and 
installation of high-performance air source heat pumps in Maine residences.
FISCAL NOTE REQUIRED
(See attached)
Approved: 08/23/19
LD 1847
LR 2578(01)
Bond Issues
Term (years)
Principal
Rate (%)
Interest
Total Cost
General Fund - Non-Taxable
$10,000,000
4.25%
$2,337,500
$12,337,500
General Fund - Taxable
$5,000,000
4.75%
$1,306,250
$6,306,250
Referendum Costs
Month/Year
Election Type
Question
Length
Nov-19
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 $172,000 may be required.
Current biennium cost increase - General Fund
Fiscal Note
An Act To Authorize a General Fund Bond Issue for the Protection and Enhancement of Water 
Quality, Support of Environmental Clean-up Efforts and Provision of Loans for the Residential 
Purchase of High-performance Air Source Heat Pumps
Fiscal Note for Original Bill
Sponsor: Sen. Breen of Cumberland
Committee: Not Referred
Fiscal Note Required: Yes
LR2578(01) - Fiscal Note - Page 1 of 1