An Act Regarding Energy, Utilities and Technology
Maine Legislature, Session 130, LD 0337
Committee Amendment CA_A_S507 (Senate)
Amends: 35-A MRSA §10105, 35-A MRSA §10129

MAINE STATE LEGISLATURE 
The following document is provided by the 
LAW AND LEGISLATIVE DIGITAL LIBRARY 
at the Maine State Law and Legislative Reference Library 
http://legislature.maine.gov/lawlib 
Reproduced from scanned originals with text recognition applied 
(searchable text may contain some errors and/or omissions) 
L.D. 337 
(Filing No. s:S6/) 
ENERGY, UTILITIES AND TECHNOLOGY 
Reproduced and distributed under the direction of the Secretary of the Senate. 
SENATE 
130THLEGISLATURE 
COMMITTEE AMENDMENT " ,4 " to S.P. 143, L.D. 337, "An Act Regarding 
Energy, Utilities and Technology" 
Amend the bill by striking out the title and substituting the following: 
'An Act Regarding the Powers of the Efficiency Maine Trust and the Maine Clean 
Energy and Sustainability Accelerator' 
Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 35-A MRSA §10105, sub-§8 is enacted to read: 
8. Powers. The trust may: 
A. Make, modify and cany out any agreement necessary or useful for performing any 
of its powers, duties or purposes, including without limitation any construction 
agreement, purchase or acquisition agreement, loan or lease agreement, energy 
performance contract, partnership agreement, limited partnership agreement, joint 
venture agreement, participation agreement or agreement with a leasing corporation or 
other financial intermediary; 
B. Obtain any certification, wananty, affidavit or other representation necessary or 
useful for performing any of its powers or duties; 
C. Insure or guarantee performance of any loan agreement or other obligation and 
procure insurance in aid of any of the trust's purposes; 
D. Procure professional services including, but not limited to, audit, banking, legal, 
communications, energy, engineering, evaluation, financial, information technology, 
media, research and analysis and website management services; and 
E. Acquire, use, improve or dispose of any interest in or type of real or personal 
property, including by means of grant, purchase, sale, bonowing, loan, lease, 
foreclosure, mortgage, lien, security interest, assignment or other lawful means, with 
or without public bidding, and also including the assessment of fees, the receipt of 
Page I - 130LR1894(02) 
COMMITTEE AMENDMENT 
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COMMITTEEAMENDMENT"A "to S.P.143, L.D. 337 {s-Sbl) 
reimbursements for expenses incurred in carrying out its purposes and the expenditure 
or investment of its funds. 
Sec. 2. 35-A MRSA §10129, sub-§1, ,rG-1 is enacted to read: 
G-1. "Lease" means a transfer of the right to possession and use of property, goods or 
equipment in connection with a qualified project for a term in return for consideration. 
A lease may include or use a finance lease, a municipal lease as defined under Title 
30-A, section 6006-C, a lease-purchase agreement, an installment sales contract or a 
similar property acquisition and fmancing arrangement. 
Sec. 3. 35-A MRSA §10129, sub-§1, ,iK-1 is enacted to read: 
K-1. "Security interest" means an interest in property created by agreement for the 
purpose of securing payment or performance of an obligation or indemnifying against 
loss or liability. A security interest may include, but is not limited to, a mortgage, a 
pledge, a security agreement, a purchase-money security interest, a financing 
statement, assignments of leases and rents or other forms of lien or encumbrance. 
Sec. 4. 35-A MRSA §10129, sub-§2, as enacted by PL 2021, c. 358, §2 and 
reallocated by RR 2021, c. 1, Pt. A, §40, is amended to read: 
2. 
Establishment. 
The Maine Clean Energy and Sustainability Accelerator is 
established under the trust and is administered by the trust as a dedicated, specialized 
fmance program designed to drive private capital into market gaps for goods and services 
producing low or zero greenhouse gas emissions and use fmance tools to mitigate climate 
change; that does not take deposits; that is funded by government, public, private or 
charitable contributions as described in subsection 7; and that invests in or finances projects 
alone or in conjunction with other investors. 
Sec. 5. 35-A MRSA §10129, sub-§4, as enacted by PL 2021, c. 358, §2 and 
reallocated by RR 2021, c. 1, Pt. A, §40, is amended to read: 
4. Finance and investment. The following provisions govern the fmance and 
investment activities of the accelerator. 
A. The accelerator may provide fmance and investment services, including but not 
limited to: 
(1) Originating, evaluating, underwriting and closing financing and investment 
transactions in qualified projects; 
(2) Partnering with private capital providers and capital markets to attract co-
investment from private banks, community development fmancial institutions, 
investors and others in order to drive new investment into underpenetrated markets, 
to increase the efficiency of private capital markets with respect to investing in 
greenhouse gas reduction projects and to increase total investment caused by the 
accelerator; 
(3) Managing the accelerator's portfolio of assets to ensure performance and 
monitor risk; 
( 4) Ensuring appropriate debt and risk mitigation products are offered; aR4 
COMMITTEE AMENDMENT 
COMMITIEEAMENDMENT"_fl "to S.P. 143,L.D. 337 (:5 ~6b 7) 
(5) Overseeing prudent, noncontrolling equity investments.,. in businesses engaged 
in building, developing, financing, owning, operating or supplying materials for 
qualified projects; and 
( 6) Lending money or otherwise extending credit to any person and exercising all 
powers of a lender or creditor, including obtaining, perfecting and enforcing 
security interests. 
B. The accelerator may provide capital to qualified projects in the form of: 
(1) Debt financing; 
(2) Credit enhancements, including loan loss reserves and loan guarantees; 
(3) Aggregation and warehousing; 
(4) Equity capital; aaa 
(5) Any other financial product approved by the board.,.; and 
(6) Leases. 
Sec. 6. 35-A MRSA §10129, sub-§7, 1A, as enacted by PL 2021, c. 358, §2 and 
reallocated by RR2021, c. 1, Pt. A, §40, is repealed and the following enacted in its place: 
A. The accelerator may be capitalized with: 
(l) Federal funds available from a national clean energy and sustainability 
accelerator and may accept other federal funds as available; 
(2) State funds appropriated or allocated for purposes consistent with this section; 
(3) Revenues of the trust received from transmission and distribution utilities, 
natural gas utilities, the Regional Greenhouse Gas Initiative Trust Fund established 
by section 10109, subsection 2 and the New England independent system operator; 
( 4) Funds from settlements approved by the commission, the Office of the 
Attorney General or any governmental subdivision of the State or its agencies; or 
(5) Any other public or private sources as may be approved by the board.' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section 
number to read consecutively. 
SUMMARY 
This amendment replaces the bill, which is a concept draft, and provides that the 
Efficiency Maine Trust, in carrying out its duties, has the power to make agreements, obtain 
certifications and insurance and guarantee performance of any obligation, contract for 
professional services and acquire and dispose ofreal or personal property. 
The amendment also makes changes to the Maine Clean Energy and Sustainability 
Accelerator finance program. The amendment allows the accelerator to lend money or 
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otherwise extend credit through various mechanisms, including through leases. It also 
expands the description of the sources of capital for the program. 
FISCAL NOTE REQUIRED 
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(See attached) 
COMMITTEE AMENDMENT 
Fiscal Detail and Notes 
Approved: 03/18/22 feac:.. 
13'0th MAINE LEGISLATURE 
LD337 
LR 1894(02) 
An Act Regarding Energy, Utilities and Technology 
Fiscal Note for Bill as Amended by Committee Amendment "A' [S --SD -D 
Committee: Energy, Utilities and Technology 
Fiscal Note Required: Yes 
Fiscal Note 
Minor cost increase - Efficiency Maine Trust 
Any additional costs to the Efficiency Maine Trust as a result of the provisions of this bill are anticipated to be minor 
and can be absorbed within existing budgeted resources. 
LR1894(02) - Fiscal Note - Page 1 of 1