An Act to Provide for the 2025 and 2026 Allocations of the State
Maine Legislature, Session 132, LD 0678
Sponsors: CURRY

Legislative Document
No. 678
S.P. 293
In Senate, February 25, 2025
An Act to Provide for the 2025 and 2026 Allocations of the State 
Ceiling on Private Activity Bonds
(EMERGENCY)
Submitted by the Finance Authority of Maine pursuant to Joint Rule 204.
Received by the Secretary of the Senate on February 20, 2025.  Referred to the Committee 
on Housing and Economic Development pursuant to Joint Rule 308.2 and ordered printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator CURRY of Waldo.
Emergency preamble.  Whereas, acts and resolves of the Legislature do not 
become effective until 90 days after adjournment unless enacted as emergencies; and
Whereas, the Maine Revised Statutes, Title 10, section 363 and Private and Special 
Law 2023, chapter 18 make a partial allocation of the state ceiling on private activity bonds 
to some issuers for calendar year 2025 but leave a portion of the state ceiling unallocated 
and do not provide sufficient allocations for certain types of private activity bonds that may 
require an allocation prior to the effective date of this Act if it is not enacted on an 
emergency basis; and
Whereas, if these bond issues must be delayed due to the lack of available state 
ceiling, the rates and terms under which these bonds may be issued may be adversely 
affected, resulting in increased costs to beneficiaries or even unavailability of financing for 
certain projects; and
Whereas, in the judgment of the Legislature, these facts create an emergency within 
the meaning of the Constitution of Maine and require the following legislation as 
immediately necessary for the preservation of the public peace, health and safety; now, 
therefore,
Be it enacted by the People of the State of Maine as follows:
Sec. 1.  Allocation to Treasurer of State.  The $5,000,000 of the state ceiling on 
private activity bonds for calendar year 2025 previously allocated to the Treasurer of State 
remains allocated to the Treasurer of State to be used or reallocated in accordance with the 
Maine Revised Statutes, Title 10, section 363, subsection 5 for calendar year 2025.  Five 
million dollars of the state ceiling for calendar year 2026 is allocated to the Treasurer of 
State to be used or reallocated in accordance with Title 10, section 363, subsection 5.
Sec. 2.  Allocation to Finance Authority of Maine, including as successor to 
Maine Educational Loan Authority.  The $195,000,000 of the state ceiling on private 
activity bonds for calendar year 2025 previously allocated to the Finance Authority of 
Maine, including as successor to the Maine Educational Loan Authority, remains allocated 
to the Finance Authority of Maine to be used or reallocated in accordance with the Maine 
Revised Statutes, Title 10, section 363, subsections 6 and 8 for calendar year 2025.  An 
additional $75,000,000 of the state ceiling on private activity bonds for calendar year 2025 
previously unallocated is allocated to the Finance Authority of Maine to be used or 
reallocated in accordance with Title 10, section 363, subsections 6 and 8 for calendar year 
2025.  Two hundred thirty-five million dollars of the state ceiling for calendar year 2026 is 
allocated to the Finance Authority of Maine to be used or reallocated in accordance with 
Title 10, section 363, subsections 6 and 8.
Sec. 3.  Allocation to Maine Municipal Bond Bank.  The $10,000,000 of the 
state ceiling on private activity bonds for calendar year 2025 previously allocated to the 
Maine Municipal Bond Bank remains allocated to the Maine Municipal Bond Bank to be 
used or reallocated in accordance with the Maine Revised Statutes, Title 10, section 363, 
subsection 7 for calendar year 2025.  Ten million dollars of the state ceiling for calendar 
year 2026 is allocated to the Maine Municipal Bond Bank to be used or reallocated in 
accordance with Title 10, section 363, subsection 7.
Sec. 4.  Allocation to Maine State Housing Authority.  The $100,000,000 of 
the state ceiling on private activity bonds for calendar year 2025 previously allocated to the 
Maine State Housing Authority remains allocated to the Maine State Housing Authority to 
be used or reallocated in accordance with the Maine Revised Statutes, Title 10, section 363, 
subsection 4 for calendar year 2025.  One hundred million dollars of the state ceiling for 
calendar year 2026 is allocated to the Maine State Housing Authority to be used or 
reallocated in accordance with Title 10, section 363, subsection 4.
Sec. 5.  Unallocated state ceiling.   Three million seven hundred eighty thousand 
dollars of the state ceiling on private activity bonds for calendar year 2025 is unallocated 
and must be reserved for future allocation in accordance with applicable laws.  Thirty-eight 
million seven hundred eighty thousand dollars of the state ceiling for calendar year 2026 is 
unallocated and must be reserved for future allocation in accordance with applicable laws.
Emergency clause.  In view of the emergency cited in the preamble, this legislation 
takes effect when approved.
SUMMARY
This bill establishes the allocations of the state ceiling on issuance of tax-exempt 
private activity bonds for calendar years 2025 and 2026 among the state-level issuers of 
tax-exempt bonds.