An Act to Create the Lobster Innovation Fund
Maine Legislature, Session 131, LD 1552
Committee Amendment CA_A_SA_C_S511 (Senate)

SENATE AMENDMENT " ^ to COMMITTEE AMENDMENT "A" to S.P. 615,
L.D, 1552, "An Act to Create the Lobster Innovation Fund"
Amend the amendment by striking out all of sections 4 and 5 and inserting the
following:
'See. 4. Transfer. Notwithstanding any provision of law to the contrary, on or before
June 30, 2024, the State Controller shall transfer $500,000 from the Department of
Professional and Financial Regulation, Bureau of Financial Institutions, Other Special
' Revenue Funds account to the Department of Marine Resources, Lobster Innovation Fund,
Other Special Revenue Funds account to provide stipends to holders of Class I, Class II or
Class III commercial lobster fishing licenses to participate in the testing of new lobster
fishing technologies.
Sec. 5. Appropriations and allocations. The following appropriations and
• allocations are made.
MARINE RESOURCES, DEPARTMENT OF
Lobster Innovation Fund N439
Initiative: Provides allocation to provide stipends to holders of Class I, Class II or Class III
commercial lobster fishing licenses to participate in the testing of new lobster fishing
25' technologies.
OTHER SPECIAL REVENUE FUNDS 2023-24 2024-25
AllOther $500,000 $500
OTHER SPECIAL REVENUE FUNDS TOTAL $500,000 $500
Lobster Innovation Fund N439
Initiative: Provides a one-time appropriation to provide stipends to holders of Class I, Class
II or Class III commercial lobster fishing licenses to participate in the testing of new lobster
fishing technologies,
GENERAL FUND 2023-24 2024-25
35- AHOther $0 $50,000
SENATE AMENDMENT
^ ' SENATE AMENDMENT "^y to COMMITTEE AMENDMENT "A" to S.P. 615, L.D. 1552
GENERAL FUND TOTAL $0 $50,000
MARINE RESOURCES, DEPARTMENT OF
DEPARTMENT TOTALS 2023-24 2024-25
GENERAL FUND $0 $50,000
OTHER SPECIAL REVENUE FUNDS $500,000 $500
DEPARTMENT TOTAL-ALL FUNDS $500,000 $50,500
Amend the amendment by relettering or renumbering any nonconsecutive Part letter or
section number to read consecutively.
SUMMARY
This amendment incorporates the provisions of Senate Amendment "A" to Committee
Amendment "A" and Senate Amendment "B" to Committee Amendment "A".
SPONSORED BY:
(President JACKSON.'T.)
COUNTY: Aroostook
FISCAL NOTBMQUOED
(SttBttttW)
SENATE AMENDMENT
Approved: 07/25/23 ^K?<^
LD 1552 LR 171(07)
An Act to Create the Lobster Innovation Fund
Fiscal Note for Senate Amendment (G" to Committee Amendment "A"
Sponsor: Pres. Jackson ofAroostook
Fiscal Note Required: Yes
Fiscal Note
Projections Projections
FY 2023-24 FY 2024-25 FY 2025-26 FY 2026-27
Net Cost (Savings)
General Fund
Appropriations/AIlocations
General Fund
Other Special Revenue Funds
Transfers
General Fund
Other Special Revenue Funds
Fiscal Detail and Notes
This amendment removes the one-time transfer and related allocation of $2,000,000 in fiscal year 2023-24 from the
unappropriated surplus of the General Fund to the newly established Lobster Innovation Fund (LIF) within the
Department of Marine Resources. Instead, the amendment provides a one-time transfer and related allocation of
$500,000 from the Department of Professional and Financial Regulation, Bureau of Financial Institutions, Other
Special Revenue Funds account to the LIF in fiscal year 2023-24 and a one-time General Fund appropriation of
$50,000 in fiscal year 2024-25 for stipends to holders of Class I, Class II, or Class III Lobster fishing licenses to
participate in the testing of new lobster fishing technologies.
($2,000,000)
$0
($1,500,000)
$2,000,000
($2,000,000)
),000
$50,000
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
$0
LRO 171 (07) - Fiscal Note - Page 1 of 1