An Act to Clarify and Strengthen the Government Shutdown Loan Guarantee Program
Maine Legislature, Session 132, LD 2102
Committee Amendment CA_A_H826 (House)
Amends: 10 MRSA §1100-J, 10 MRSA §1100-L, 10 MRSA §1100-N

COMMITTEE AMENDMENT "A "toH.P. 1417,L.D. 2102, "AnActto Clarify and
Strengthen the Government Shutdown Loan Guarantee Program"
Amend the bill by striking out all of section 2 and insertmg the following:
'See. 2. 10 MRSA §1100-JJ, sub-§2, as enacted by PL 2025,c.494,§2, is amended
to read:
2. Determination of loan amount. :Hie Unless an orieination fee is included by an
eligible financial institution and added to the loan amount in accordance with subsection 4.
paragraph D. the maximum amount of a loan is the lesser of $6,000 and the affected
employee's most recent monthly after-tax pay, offset by any unemployment benefits, as
determined pursuant to this subsection.
A. Offsetting unemployment benefits are determined by multiplying by 4 the greater
of the amount per week of unemployment benefits pursuant to Title 26, chapter 13, as
reported pursuant to subsection 1, paragraph B, subparagraph (4);
(1) Actually received by the affected employee during the shutdown; and
(2) The affected employee is eligible to receive during the shutdown.
B, The amount of offsetting unemployment benefits, if any, as determined pursuant to
paragraph A is subtracted from the lesser of $6,000 and the affected employee's most
recent monthly after-tax pay.
C, The amount of the loan is the lesser of $6,000 and the amount determined following
the calculation in paragraph B.
Sec. 3. 10 MRSA §1100-JJ, sub-§4, ^D is enacted to read:
D. A loan agreement may contam an oriemation fee not to exceed the lesser of $60
and 1% of the loan amount and. if an oriemation fee is included, the eligible fmancial
institution shall addjthe origination fee to the loan amQunt,
Sec. 4. 10 MRSA §1100-LL, sub-§3, as enacted by PL 2025, c. 494, §2, is
amended to read;
COMMITTEE AMENDMENT
COMMITTEE AMENDMENT " A " to H.P. 1417, L.D. 2102
3. Termination of loan recovery guarantee based on excess claims. If the amount
expended for loan guarantee payments under section 11 00-KK equals or exceeds 10% 5 0%
of the total of all loans issued, the authority shall immediately cease to approve claims and
shall notify the Treasurer of State and each eligible fmancial iastitution of the total amount
of loan guarantee payments made and that the authority has ceased honoring loan claims.
Sec. 5. 10 MRSA §1100-LL, sub-§5 is enacted to read:
5. Notification of funding needs. If the total amount of funds expended for loan
guarantee payments under section 1100-KK equals or exceeds $200.000. the authority shall
immediately notify the Treasurer of State, the joint standing committee of the Legislature
havine lurisdiction over aDorooriations and financial affairs and the joint standing
committee of the Legislature having iurisdiction over financial services matters.
Sec. 6. 10 MRSA §1100-NN, first % as enacted by PL 2025, c. 494, §2, is amended
to read:
The joint standing committee of the Legislature having jurisdiction over appropriations
and fmancial affairs, in consultation with the joint standing committee of the Legislature
having jurisdiction over financial services matters, »wy shall report out legislation to
address any funding needs of the program after receipt of notification from the authority
pursuant to section 1100-LL. subsection 5.'
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section
number to read consecutively.
SUMMARY
This amendment, which is the majority report of the committee, makes the following
changes to the bill,
1. It authorizes an eligible fmancial institution to charge an origination fee that is the
lesser of $60 and 1% of the total loan amount and requires the financial institution to add
the origination fee to the total amount of the loan.
2, Instead of removing language that provides that if the amount expended for loan
guarantee payments equals or exceeds 10% of the total of all loans issued, the Fuiance
Authority of Maine must stop approving claims, it changes the amount that must be
expended before the authority stops approving claims from 10% of the total of all loans
issued to 50% of the total of all loans issued.
3, If the total amount of funds expended for loan guarantee payments under the
Government Shutdown Loan Guarantee Program equals or exceeds $200,000, it requires
the authority to immediately notify the Treasurer of State, the joint standing committee of
the Legislature having jurisdiction over appropriations and fmancial affairs and the joint
standing committee of the Legislature having jurisdiction over financial services matters
and requires the reportmg out of legislation to address the funding needs of the program
8 after that notification is received.
9 FISCAL NOTE REQIHKED
(See attached)
Page2-132LR2952(02)
COMMITTEE AMENDMENT
Approved: 02/25/26
L.R.L
LD 2102 LR 2952(02)
An Act to Clarify and Strengthen the Government Shutdown Loan Guarantee Program
Fiscal Note for Bill as Amended by Committee Amendment '^" (^ \-\ -
Committee: Health Coverage, Insurance and Financial Services
Fiscal Note Required: Yes
Fiscal Note
Projections FY Projections FY
FY 2025-26 FY 2026-27 2027-28 2028-29
Appropriations/Allocations
Other Special Revenue Funds $250,000 $0 $0 $0
Transfers
Other Special Revenue Funds $0 $0 $0 $0
Fiscal Detail and Notes
The bill includes a one-time Other Special Revenue Funds allocation of $250,000 in fiscal year 2025-26 to the Government
Shutdown Loan Guarantee Program Fund within the Office of the State Treasurer to assist with guaranteeing repayment of a
portion of loans made by eligible financial institutions and credit unions to federal or state employees affected by government
shutdowns,
This allocation is funded by a one-time transfer of $250,000 in fiscal year 2025-26 from the Department of Professional and
Financial Regulation, Bureau of Financial Institutions to the Government Shutdown Loan Guarantee Program Fund,
LR2952(02) - Fiscal Note - Page 1 of 1