reglab/statecodes huggingface dataset:
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1023-M. Plymouth Waste Oil Loan Program (REPEALED)

§1023-M. Plymouth Waste Oil Loan Program
(REPEALED)
SECTION HISTORY
PL 1999, c. 713, §3 (NEW). PL 2001, c. 356, §7 (AMD). PL 2001, c. 561, §1 (AMD). PL 2003, c. 129, §§1-4 (AMD). PL 2003, c. 129, §5 (AFF). PL 2003, c. 537, §28 (AMD). PL 2003, c. 537, §53 (AFF). PL 2003, c. 596, §1 (AMD). PL 2007, c. 220, §§1, 2 (AMD). PL 2007, c. 479, §1 (AMD). PL 2007, c. 479, §2 (AFF). PL 2011, c. 211, §16 (RP). PL 2011, c. 211, §27 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1023-O. Visual and Digital Media Loan Fund (REPEALED)

§1023-O. Visual and Digital Media Loan Fund
(REPEALED)
SECTION HISTORY
PL 2011, c. 372, §2 (NEW). MRSA T. 10 §1023-O, sub-§3 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1023-P. Dairy Improvement Fund

§1023-P. Dairy Improvement Fund
The Dairy Improvement Fund, referred to in this section as "the fund," is created. The fund must be deposited with and maintained by the authority. The Commissioner of Agriculture, Conservation and Forestry shall administer the fund in accordance with Title 7, section 2910‑B and this section. All money received by the authority in accordance with Title 7, section 2910‑B and Title 8, section 1036, subsection 2‑A, paragraph M must be credited to the fund. Money credited to the fund must be used to provide loans to assist dairy farmers in making capital improvements to maintain and enhance the viability of their farms and to pay the administrative costs of processing loan applications and servicing and administering the fund and loans made from the fund.   [PL 2011, c. 625, §5 (NEW); PL 2011, c. 657, Pt. W, §6 (REV).]
Repayment of loans and interest on these loans must be credited to the fund and may be used for the purposes stated in this section and Title 7, section 2910‑B.   [PL 2011, c. 625, §5 (NEW).]
The authority may adopt rules necessary to implement this section. Rules adopted pursuant to this paragraph are routine technical rules as defined in Title 5, chapter 375, subchapter 2‑A.   [PL 2011, c. 625, §5 (NEW).]
SECTION HISTORY
PL 2011, c. 625, §5 (NEW). PL 2011, c. 657, Pt. W, §6 (REV).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1025. Safeguarding the Mortgage Insurance Fund

§1025. Safeguarding the Mortgage Insurance Fund
When, in the opinion of the authority, the action is necessary to safeguard the Mortgage Insurance Fund, Loan Insurance Reserve Fund, Underground Oil Storage Replacement Fund or Overboard Discharge Replacement Fund and to maintain income from eligible projects, the authority may, in addition to its other powers:   [PL 1989, c. 543, §5 (AMD).]
1.  Acquisition and disposal of property.
Take assignments of insured mortgages and other forms of security and take title by foreclosure or conveyance to any eligible project. The authority may sell, or on a temporary basis lease or rent, the eligible project for a use other than that specified in this chapter. The authority shall be liable to a municipality for property taxes on any unimproved real property owned by it in the municipality due on or after April 1st at least one year after acquisition of the property by the authority;
[PL 1985, c. 344, §47 (AMD).]
2.  Mortgagor rent or lease.
Permit a mortgagor to lease or rent an insured project, temporarily and under conditions set by the authority, to a responsible lessee or tenant for a use other than that specified in this chapter; and
[PL 1985, c. 344, §47 (AMD).]
3.  Extend time.
Extend the time of payment of the loan beyond original maturity, extend the insurance accordingly, waive mortgage insurance premiums and extend or waive other terms and conditions of the loan.
[PL 1985, c. 714, §15 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1983, c. 519, §10 (AMD). PL 1985, c. 344, §47 (AMD). PL 1985, c. 714, §§14,15 (AMD). PL 1987, c. 521, §7 (AMD). PL 1987, c. 846, §8 (AMD). PL 1989, c. 543, §5 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026. Criteria for projects (REPEALED)

§1026. Criteria for projects
(REPEALED)
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1981, c. 698, §59 (AMD). PL 1985, c. 344, §48 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-B. Mortgage insurance of $1,000,000 or less (REPEALED)

§1026-B. Mortgage insurance of $1,000,000 or less
(REPEALED)
SECTION HISTORY
PL 1985, c. 344, §49 (NEW). PL 1985, c. 714, §§19-21 (AMD). PL 1987, c. 393, §§3,4 (AMD). PL 1987, c. 402, §B14 (AMD). PL 1987, c. 581, §§1,2 (AMD). PL 1991, c. 511, §§A5-7 (AMD). PL 1999, c. 504, §9 (AMD). PL 2003, c. 537, §31 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-C. Mortgage insurance for veterans (REPEALED)

§1026-C. Mortgage insurance for veterans
(REPEALED)
SECTION HISTORY
PL 1985, c. 344, §49 (NEW). PL 1985, c. 714, §§22,23 (AMD). PL 1987, c. 393, §§5-7 (AMD). PL 1989, c. 857, §47 (AMD). PL 1991, c. 626, §3 (AMD). PL 1991, c. 854, §A6 (AMD). PL 1997, c. 455, §6 (AMD). PL 1997, c. 489, §6 (AMD). PL 2003, c. 537, §32 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-D. Mortgage insurance for other projects (REPEALED)

§1026-D. Mortgage insurance for other projects
(REPEALED)
SECTION HISTORY
PL 1985, c. 344, §49 (NEW). PL 1985, c. 714, §24 (AMD). PL 1987, c. 393, §§8,9 (AMD). PL 1987, c. 697, §§7,8 (AMD). PL 1989, c. 552, §13 (AMD). PL 1991, c. 606, §F1 (AMD). PL 2001, c. 417, §15 (AMD). PL 2003, c. 537, §33 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-E. Pool insurance

§1026-E. Pool insurance
In addition to its other powers under this chapter, subject to the limitations of this subchapter, the authority may insure mortgage payments with respect to mortgage loans designated as one or more pools or other segregated portfolios. Any such insurance may not exceed 50% of the aggregate principal balances of the mortgage loans as of the date on which the mortgage loans are designated for inclusion in a pool. The authority shall, by rulemaking pursuant to Title 5, chapter 375, subchapter 2, establish requirements for demonstrating project feasibility and for collateral.   [PL 2003, c. 537, §34 (AMD); PL 2003, c. 537, §53 (AFF).]
1.  Secondary market pool insurance.
Notwithstanding the first paragraph in connection with the creation and operation of a secondary market program for mortgage loans and the insured portions of mortgage loans, in addition to its other powers under this chapter, the authority may insure or guarantee payment, including timely payment, of principal and interest due to holders of insured certificates, if each such insured certificate evidences a fractional undivided ownership interest in a separate and identifiable pool consisting only of that portion of individual mortgage loans that, at origination of the pool, is insured by the authority pursuant to one or more applicable provisions of this chapter. Any such insurance or guaranty of an insured certificate must be in lieu of and not in addition to its insurance of that portion of the individual mortgage loan evidenced by the insured certificate.
[PL 1993, c. 460, §6 (NEW).]
SECTION HISTORY
PL 1985, c. 344, §49 (NEW). PL 1985, c. 714, §25 (AMD). PL 1993, c. 460, §6 (AMD). PL 2003, c. 537, §34 (AMD). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-F. Mortgage insurance for underground and aboveground oil storage facility projects and projects related to the installation of equipment related to the improvement of air quality pursuant to requirements for gasoline service station vapor control and petroleum liquids transfer vapor recovery (REPEALED)

§1026-F. Mortgage insurance for underground and aboveground oil storage facility projects and projects related to the installation of equipment related to the improvement of air quality pursuant to requirements for gasoline service station vapor control and petroleum liquids transfer vapor recovery
(REPEALED)
SECTION HISTORY
PL 1987, c. 521, §8 (NEW). PL 1993, c. 601, §3 (AMD). PL 2003, c. 537, §35 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-G. Mortgage insurance for overboard discharge replacement projects (REPEALED)

§1026-G. Mortgage insurance for overboard discharge replacement projects
(REPEALED)
SECTION HISTORY
PL 1987, c. 846, §9 (NEW). PL 2003, c. 537, §36 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-H. Innovation finance program (REPEALED)

§1026-H. Innovation finance program
(REPEALED)
SECTION HISTORY
PL 1989, c. 552, §14 (NEW). PL 2003, c. 537, §37 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-K. Loan insurance for small businesses (REPEALED)

§1026-K. Loan insurance for small businesses
(REPEALED)
SECTION HISTORY
PL 1993, c. 319, §2 (NEW). PL 2003, c. 537, §38 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-O. Employee stock ownership program (REPEALED)

§1026-O. Employee stock ownership program
(REPEALED)
SECTION HISTORY
PL 1997, c. 217, §1 (NEW). PL 2003, c. 537, §39 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-P. Mortgage insurance for clean fuel vehicle projects (REPEALED)

§1026-P. Mortgage insurance for clean fuel vehicle projects
(REPEALED)
SECTION HISTORY
PL 1997, c. 500, §6 (NEW). PL 2003, c. 537, §40 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-R. Mortgage insurance for waste oil disposal site clean-up projects (REPEALED) (REALLOCATED FROM TITLE 10, SECTION 1026-Q)

§1026-R. Mortgage insurance for waste oil disposal site clean-up projects
(REPEALED)
(REALLOCATED FROM TITLE 10, SECTION 1026-Q)
SECTION HISTORY
RR 1999, c. 1, §14 (RAL). PL 2003, c. 537, §41 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1026-S. Mortgage loans for Plymouth waste oil site remedial study (REPEALED)

§1026-S. Mortgage loans for Plymouth waste oil site remedial study
(REPEALED)
SECTION HISTORY
PL 1999, c. 713, §4 (NEW). PL 2003, c. 537, §42 (RP). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1027. Insurance of mortgages (REPEALED)

§1027. Insurance of mortgages
(REPEALED)
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1983, c. 519, §11 (AMD). PL 1985, c. 344, §50 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1028. Mortgage insurance premiums

§1028. Mortgage insurance premiums
The authority may fix mortgage insurance premiums for the insurance of mortgage payments under this subchapter. The effective rate of the insurance premiums shall not be more than 2% per year of the actual or scheduled outstanding principal obligation at the beginning of each year. The authority shall determine and prescribe the manner in which the premiums shall be payable, the effective rate of the insurance premium, the actual or scheduled outstanding principal obligation and other matters necessary and proper for the assessment and collection of the premiums.   [PL 1985, c. 714, §26 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §51 (AMD). PL 1985, c. 714, §26 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1029. Insurance of subchapter 3 loans

§1029. Insurance of subchapter 3 loans
1.  Eligible for insurance.
All payments required under a mortgage, a loan agreement or related documents for a project financed by revenue obligation securities issued pursuant to subchapter 3, including revenue obligation securities that provide full or partial financing for more than one project, are eligible for insurance to the extent permitted under this subchapter.
[PL 2003, c. 537, §43 (AMD); PL 2003, c. 537, §53 (AFF).]
2.  Insurance payment.
In any case when the authority becomes obligated by contract or other agreement to make an insurance payment with respect to any insured mortgage or other agreement issued with respect to insured subchapter 3 loans, the authority shall:
A. Make the payment at the time and in the manner provided by the applicable contract or agreement, charging the payment to the Mortgage Insurance Fund, Loan Insurance Reserve Fund or, in the case of payments required under agreements issued for aboveground and underground storage facility replacement projects, to the Underground Oil Storage Replacement Fund;   [PL 2003, c. 537, §43 (AMD); PL 2003, c. 537, §53 (AFF).]
B.   [PL 1985, c. 714, §27 (RP).]
C.   [PL 1985, c. 714, §27 (RP).]
D. Take all reasonable steps to enforce the payment of amounts due from the mortgagor.   [PL 1985, c. 714, §27 (AMD).]
E.   [PL 1985, c. 714, §27 (RP).]
The trustee for any bond or note issued in anticipation of the bond or, if there is no trustee, the holder of any bond or note has the right to bring suit against the authority for payment in accordance with the contract or other agreement executed by the authority.
[PL 2003, c. 537, §43 (AMD); PL 2003, c. 537, §53 (AFF).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §52 (AMD). PL 1985, c. 714, §27 (AMD). PL 1987, c. 521, §9 (AMD). PL 1987, c. 846, §10 (AMD). PL 2003, c. 537, §43 (AMD). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1030. Incontestability

§1030. Incontestability
Any loan insurance commitment or contract executed and delivered by the authority under this subchapter is conclusive evidence of the eligibility of the loan for insurance subject to satisfaction of any conditions set forth in the loan insurance contract or commitment and that the requirements of sections 1026‑A and 1026‑E have, to the extent determined applicable by the authority, been satisfied or made conditions of the loan insurance commitment or contract, and the validity of any loan insurance commitment or contract so executed and delivered is incontestable in the hands of an insured except for fraud or misrepresentation on the part of the insured.   [PL 2003, c. 537, §44 (AMD); PL 2003, c. 537, §53 (AFF).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §53 (AMD). PL 1987, c. 521, §10 (AMD). PL 1987, c. 846, §11 (AMD). PL 2003, c. 537, §44 (AMD). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2: MORTGAGE INSURANCE PROGRAMS › 10 §1031. Loans eligible for investment

§1031. Loans eligible for investment
Loans insured under this subchapter are made legal investments for all insurance companies, trust companies, banks, investment companies, savings banks, savings and loan associations, executors, trustees and other fiduciaries, public and private pension or retirement funds and other persons.   [PL 2003, c. 537, §45 (AMD); PL 2003, c. 537, §53 (AFF).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1983, c. 519, §12 (AMD). PL 1985, c. 344, §54 (AMD). PL 2003, c. 537, §45 (AMD). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2-A: INDUSTRIAL STABILITY PROGRAM › 10 §1035. Purpose (REPEALED)

§1035. Purpose
(REPEALED)
SECTION HISTORY
PL 1985, c. 433, §1 (NEW). PL 1989, c. 857, §48 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 2-A: INDUSTRIAL STABILITY PROGRAM › 10 §1036. Pilot program (REPEALED)

§1036. Pilot program
(REPEALED)
SECTION HISTORY
PL 1985, c. 433, §1 (NEW). PL 1987, c. 349, §H8 (AMD). PL 1989, c. 857, §48 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1041-A. Limitations on certain projects

§1041-A. Limitations on certain projects
The authority may not provide financing from proceeds of revenue obligation securities issued by the authority for any housing that is eligible for financing by the Maine State Housing Authority except with respect to property that the authority has acquired or may acquire on account or in anticipation of imminent or actual default under the insurance program.   [PL 2003, c. 537, §48 (AMD); PL 2003, c. 537, §53 (AFF).]
1.  Scope.
[PL 1991, c. 606, Pt. F, §2 (RP).]
2.  Retail stores.
[PL 1991, c. 606, Pt. F, §2 (RP).]
3.  Professional office space.
[PL 1991, c. 606, Pt. F, §2 (RP).]
4.  Reconstruction of existing building projects.
[PL 1991, c. 606, Pt. F, §2 (RP).]
5.  Housing.
[PL 1991, c. 606, Pt. F, §2 (RP).]
SECTION HISTORY
PL 1985, c. 344, §62 (NEW). PL 1985, c. 510 (AMD). PL 1985, c. 714, §28 (AMD). PL 1987, c. 393, §10 (AMD). PL 1991, c. 606, §F2 (RPR). PL 2003, c. 537, §48 (AMD). PL 2003, c. 537, §53 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1042. Assistance to applicants

§1042. Assistance to applicants
The authority may assist applicants, who may be persons, firms and corporations, private or public, except as provided in this chapter, in the financing of projects by issuing revenue obligation securities, drafting financing documents, trust agreements and other contracts, arranging the financing and negotiating for the sale of the securities.   [PL 1981, c. 476, §2 (NEW).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1045. Trust agreements; financial documents; resolutions (REPEALED)

§1045. Trust agreements; financial documents; resolutions
(REPEALED)
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §72 (RP).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1046. Rentals and revenues

§1046. Rentals and revenues
1.  Provisions.
Before issuing revenue obligation securities, the authority shall determine that there will at all times be revenues and funds sufficient:
A. To pay the principal of and the interest of the securities as they become due and payable and, in its discretion, to create and maintain reserves for that purpose; and   [PL 1985, c. 344, §74 (AMD).]
B. To pay the cost of maintaining and, where applicable, repairing the project unless provision is made in the financial document or other contract for maintenance and, where applicable, repair.   [PL 1985, c. 344, §74 (AMD).]
[PL 1985, c. 344, §74 (AMD).]
2.  Sinking fund.
All project rentals and other revenues, except those required in subsection 1, paragraph B or to provide reserves for maintenance and, where applicable, repair may be set aside at regular intervals, as provided in the trust agreement or other document, and deposited to the credit of a sinking fund charged with payment of the interest and principal of the securities as they fall due, any necessary charges of paying agents for paying principal and interest, and the redemption price or the purchase price of securities retired by call or purchase. The use and disposition of moneys to the credit of the sinking fund shall be subject to regulations prescribed in the trust agreement or other document. Except as may otherwise be provided in the trust agreement or other document, the sinking fund shall be a fund for the benefit of all securities issued for the project or projects without distinction or priority of one over another.
[PL 1985, c. 344, §74 (AMD).]
3.  Trust funds.
All moneys received under this subchapter shall be deemed trust funds, to be held and applied solely as provided in this subchapter. Any officer to whom, or any bank, trust company or other fiscal agent or trustee to which the moneys shall be paid shall act as trustees of the moneys and shall hold and apply them for the purposes of this subchapter, subject to the requirements of this subchapter, the trust agreement or other applicable document.
[PL 1985, c. 344, §74 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §74 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1047. Remedies

§1047. Remedies
Any holder of revenue obligation securities or coupons issued under this subchapter and the trustee under any trust agreement, except as restricted by the trust agreement or applicable document, may, by appropriate legal action, protect and enforce any and all rights under the laws of this State or granted under this subchapter, the trust agreement or other document, including the appointment of a receiver, and may enforce and compel the performance of all duties required by this subchapter, the trust agreement or other document to be performed by the authority, including the collecting of rates, fees and charges for the use of the project. Any proceeding shall be brought for the benefit of all holders of the securities and any coupons.   [PL 1985, c. 344, §75 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §75 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1049. Tax exemption

§1049. Tax exemption
Revenue obligation securities issued under this subchapter shall constitute a proper public purpose and the securities, their transfer and the income from them, including any profits made on their sale, shall at all times be exempt from taxation within the State, whether or not those securities, their transfer or the income from them, including any profits made on their sale, are subject to taxation under the United States Internal Revenue Code, as amended.   [PL 1987, c. 393, §11 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1987, c. 393, §11 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1050. Leasehold or other interests of lessee taxable

§1050. Leasehold or other interests of lessee taxable
The interest of the user of any project is subject to taxation in the manner provided for similar interest in Title 36, section 551, subject to Title 36, sections 655 and 656.   [PL 1981, c. 476, §2 (NEW).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1051. Bonds as legal investments

§1051. Bonds as legal investments
The revenue obligation securities of the authority and any loan or extension of credit issued under this subchapter, shall be legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries and all other persons who are now or may later be authorized to invest in bonds or other obligations of the State, may properly and legally invest funds, including capital, in their control or belonging to them. The revenue obligation securities and any loan or extension of credit which is issued under this subchapter are also made securities which may properly and legally be deposited with and received by all public officers and bodies of the State or any agency or political subdivisions and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be authorized by law.   [PL 1985, c. 344, §77 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §77 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1052. Successor to Maine Guarantee Authority

§1052. Successor to Maine Guarantee Authority
The Finance Authority of Maine is the successor to the former Maine Guarantee Authority and all securities, mortgages, trust agreements, authorizations, financial documents, resolutions and actions of the Maine Guarantee Authority shall be obligations, resolutions or actions of the Finance Authority of Maine.   [PL 1983, c. 519, §16 (NEW).]
SECTION HISTORY
PL 1983, c. 519, §16 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1054. Taxable bond option

§1054. Taxable bond option
With respect to all or any portion of any issue of any bonds or any series of bonds that the authority may issue in accordance with the limitations and restrictions of this subchapter, the authority may covenant and consent that the interest on the bonds is includable, under the United States Internal Revenue Code of 1986 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law. Bonds issued pursuant to this section are not subject to any limitations or restrictions of any law that may limit the authority's power to issue those bonds or to the procedures set forth in section 1043 or in section 1044, subsections 1, 11 and 12. The foregoing grant of power may not be construed as limiting the inherent power of the State or its agencies under any other provision of law to issue debt, the interest on which is includable in the gross income of the holders of the interest under the United States Internal Revenue Code or any subsequent law. Any action or proceeding in any court to contest the issuance of the securities, the approval by the authority of a project to benefit from issuance of the securities or the approval by the authority of mortgage insurance or the provision of a capital reserve fund for the securities for any reason must be started within 30 days after the date on which the members of the authority adopt a formal resolution approving issuance of the securities and otherwise must be governed by Title 5, chapter 375, subchapter 7. Once the authority has adopted a resolution to approve the issuance of securities pursuant to this section, any action by the authority to amend, alter or revise the resolution may not commence a new period of time within which any such action or proceeding may be commenced. Notwithstanding the provisions of section 969‑A, subsection 11 and Title 5, chapter 375, subchapter 7, including, but not limited to, Title 5, sections 11002 and 11003, any such action or proceeding may be commenced only by first serving the petition for review upon the authority, in hand, within that 30-day period. After the expiration of the 30-day period of limitation, no right of action or defense founded upon the invalidity of the resolution or contesting any provision of the resolution, any amendment to the resolution or the issuance of the securities may be started or asserted nor may the resolution or the issuance of the securities be open to question in any court upon any grounds.   [PL 2019, c. 160, §8 (AMD).]
SECTION HISTORY
PL 1985, c. 344, §78 (NEW). PL 1985, c. 593, §3 (AMD). PL 1987, c. 393, §12 (AMD). PL 1995, c. 4, §9 (AMD). PL 2019, c. 160, §8 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 3: REVENUE OBLIGATION SECURITIES PROGRAM › 10 §1055. Revenue obligation securities for waste facilities, waste disposal services or recycling projects

§1055. Revenue obligation securities for waste facilities, waste disposal services or recycling projects
In addition to any other powers and for the purposes of this chapter and Title 38, chapter 24, the authority may exercise powers and authority previously granted to the former Maine Waste Management Agency in Title 38, sections 2211 to 2222.   [PL 1995, c. 465, Pt. B, §5 (NEW); PL 1995, c. 465, Pt. C, §2 (AFF).]
SECTION HISTORY
PL 1995, c. 465, §B5 (NEW). PL 1995, c. 465, §C2 (AFF).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1061-A. Limitations on certain projects

§1061-A. Limitations on certain projects
In the case of projects consisting of multi-family or single-family residential property, the Maine State Housing Authority has responsibility to approve or disapprove such projects in accordance with regulations adopted pursuant to the Maine Administrative Procedure Act, Title 5, chapter 375, in lieu of the approval required by the authority under this subchapter, provided that this section applies only to projects that require an allocation under any applicable state bond ceiling for tax-exempt bonds.   [RR 1991, c. 2, §30 (COR).]
1.  Retail stores.
[PL 1991, c. 606, Pt. F, §3 (RP).]
2.  Professional office space.
[PL 1991, c. 606, Pt. F, §3 (RP).]
3.  Reconstruction of existing building projects.
[PL 1991, c. 606, Pt. F, §3 (RP).]
4.  Residential property.
[PL 1991, c. 606, Pt. F, §3 (RP).]
SECTION HISTORY
PL 1985, c. 344, §80 (NEW). PL 1985, c. 594, §3 (AMD). PL 1987, c. 393, §13 (AMD). PL 1991, c. 606, §F3 (RPR). RR 1991, c. 2, §30 (COR).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1061-B. Designation of issuer of recovery zone facility bonds and qualified energy conservation bonds

§1061-B. Designation of issuer of recovery zone facility bonds and qualified energy conservation bonds
To the extent permitted by federal law, and to the extent not previously reallocated pursuant to section 1074‑A or 1074‑B, the county commissioners of any county may authorize the authority to issue recovery zone facility bonds or qualified energy conservation bonds on behalf of that county pursuant to subchapter 3 or a municipality to issue recovery zone facility bonds or qualified energy conservation bonds on behalf of that county pursuant to this subchapter.   [PL 2009, c. 517, §10 (NEW).]
SECTION HISTORY
PL 2009, c. 517, §10 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1062. Assistance to municipalities

§1062. Assistance to municipalities
The authority may assist municipalities in negotiations with prospects, drafting of contracts, arranging for financing and negotiations for sale of securities to be issued under this subchapter.   [PL 1983, c. 519, §18 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1983, c. 519, §18 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1066. Rentals and revenues

§1066. Rentals and revenues
1.  Provisions.
Before issuing revenue obligation securities for any project, the municipal officers shall determine that there will at all times be revenues and funds sufficient:
A. To pay the principal of and the interest of the securities as they become due and payable and, in their discretion, to create and maintain reserves for that purpose; and   [PL 1985, c. 714, §37 (AMD).]
B. To pay the cost of maintaining and repairing the project unless provision is made in a lease or other contract for maintenance and repair.   [PL 1985, c. 714, §37 (AMD).]
[PL 1985, c. 714, §37 (AMD).]
2.  Sinking fund.
All project rentals and other revenues, except those required in subsection 1, paragraph B, or to provide reserves for maintenance and repair may be set aside at regular intervals, as provided in the resolution, financial document or trust agreement and deposited to the credit of a sinking fund charged with payment of the interest and principal of the securities as they fall due, any necessary charges of paying agents for paying principal and interest, and the redemption price or the purchase price of securities retired by call or purchase. The use and disposition of moneys to the credit of the sinking fund shall be subject to regulations prescribed in the authorizing resolution, the trust agreement or applicable financial document. Except as may otherwise be provided in the resolution, financial document or trust agreement, the sinking fund shall be a fund for the benefit of all securities issued for the project or projects without distinction or priority of one over another.
[PL 1985, c. 344, §90 (AMD).]
3.  Trust funds.
All moneys received under this subchapter are deemed trust funds, to be held and applied solely as provided in the subchapter. Any officer to whom, or any bank, trust company or other fiscal agent or trustee in which the moneys shall be paid shall act as trustee of the moneys and shall hold and apply them for the purposes of this subchapter, subject to regulations provided in the subchapter, authorizing resolution or trust agreement.
[PL 1981, c. 476, §2 (NEW).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §90 (AMD). PL 1985, c. 714, §37 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1067. Remedies

§1067. Remedies
Any holder of revenue obligation securities or attached coupons issued under this subchapter and the trustee under any trust agreement, except as restricted by the authorizing resolution, the trust agreement or applicable financial document, may, by appropriate legal action, protect and enforce any and all rights under the laws of the State or granted under this subchapter, the resolution, the trust agreement or financial document, including the appointment of a receiver, and may enforce and compel the performance of all duties required by this subchapter, the resolution, the trust agreement or financial document to be performed by the municipality, the municipal officers or by any officer, including the collecting of rates, fees and charges for the use of the project. Any suit, action or proceeding shall be brought for the benefit of all the holders of the securities and coupons.   [PL 1985, c. 344, §91 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §91 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1069. Authorizing resolution

§1069. Authorizing resolution
Notwithstanding any other law, either general, special or local, or any charter or charter amendment adopted by the municipality, or any ordinance, resolution, bylaw, rule or regulation of the municipality, it shall not be necessary to publish any resolution adopted under this chapter, either before or after its final passage.   [PL 1981, c. 476, §2 (NEW).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1070. Leasehold or other interests of lessee taxable

§1070. Leasehold or other interests of lessee taxable
The interest of the lessee of any project is subject to taxation in the manner provided for fee interests in real estate and personal property in Title 36, sections 551 and 602, subject to the provisions of Title 36, sections 655 and 656.   [PL 1983, c. 480, Pt. B, §14 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1983, c. 480, §B14 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1071. Tax exemption

§1071. Tax exemption
Revenue obligation securities issued under this subchapter shall constitute a proper public purpose and the securities, their transfer and the income from them, including any profit made on their sale, shall at all times be exempt from taxation within the State, whether or not those securities, their transfer or the income from them, including any profits made on their sale, are subject to taxation under the United States Internal Revenue Code, as amended.   [PL 1987, c. 393, §14 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1987, c. 393, §14 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1072. Bonds as legal investments

§1072. Bonds as legal investments
The revenue obligation securities of the municipality and any loan or extension of credit issued under this subchapter, shall be legal investments in which all public officers and public bodies of the State, its political subdivisions, all municipalities and municipal subdivisions, all insurance companies and associations and other persons carrying on an insurance business, all banks, bankers, banking associations, trust companies, savings banks and savings associations, including savings and loan associations, building and loan associations, investment companies and other persons carrying on a banking business, all administrators, guardians, executors, trustees and other fiduciaries, and all other persons who are now or may later be authorized to invest in bonds or other obligations of the State, may properly and legally invest funds, including capital, in their control or belonging to them. The revenue obligation securities and any loan or extension of credit which is issued under this subchapter are also made securities which may properly and legally be deposited with and received by all public officers and bodies of the State or any agency or political subdivisions and all municipalities and public corporations for any purpose for which the deposit of bonds or other obligations of the State is now or may later be authorized by law.   [PL 1985, c. 344, §93 (AMD).]
SECTION HISTORY
PL 1981, c. 476, §2 (NEW). PL 1985, c. 344, §93 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1073. Successor to program

§1073. Successor to program
The Municipal Securities Approval Program is the successor to the program formerly administered by the Maine Guarantee Authority under Title 30, chapter 242, and all resolutions and actions taken by the Maine Guarantee Authority, without exception, relative to such program shall be a resolution or action taken by the Finance Authority of Maine.   [PL 1985, c. 714, §38 (AMD).]
SECTION HISTORY
PL 1983, c. 519, §19 (NEW). PL 1985, c. 714, §38 (AMD).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1074. Taxable bond option

§1074. Taxable bond option
With respect to all or any portion of any issue of bonds or any series of bonds which any municipality may issue in accordance with the limitations and restrictions of this subchapter, the municipality may covenant and consent that the interest on the bonds shall be includable, under the United States Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States, in the gross income of the holders of the bonds to the same extent and in the same manner that the interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law. Bonds issued pursuant to this section shall not be subject to any limitations or restrictions of any law which may limit the municipality's power to issue those bonds or to the procedures set forth in section 1063 or in section 1064, subsection 1. Any bonds or issue or series of bonds with respect to which the municipality covenants and consents that the interest on the bonds shall be includable, under the United States Internal Revenue Code of 1954 or any subsequent corresponding internal revenue law of the United States in the gross income of the holders of the bonds to the same extent and in the same manner that interest on bills, bonds, notes or other obligations of the United States is includable in the gross income of the holders under the United States Internal Revenue Code or any subsequent law shall be a properly authorized, legal, valid, binding and enforceable obligation of the municipality, regardless of whether the bonds were authorized, executed, delivered or issued prior to or after the effective date of this section. The foregoing grant of power shall not be construed as limiting the inherent power of municipalities under any other provision of law to issue debt, the interest on which is includable in the gross income of the holders of the interest under the United States Internal Revenue Code or any subsequent law.   [RR 2009, c. 2, §10 (COR).]
SECTION HISTORY
PL 1985, c. 593, §7 (NEW). PL 1987, c. 393, §15 (AMD). RR 2009, c. 2, §10 (COR).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1074-A. Recovery zone facility bonds

§1074-A. Recovery zone facility bonds
1.  Recovery zones; statewide designation.
The Legislature finds that the entire State is experiencing significant poverty, unemployment, increasing rate of home foreclosures and general distress and, as a result, to the extent permitted by federal law, designates the entire State as a recovery zone as defined under 26 United States Code, Section 1400U-1, as amended.
[PL 2009, c. 517, §11 (NEW).]
2.  Reallocation.
To the extent permitted by federal law, the entire allocation to the counties of the State of the national recovery zone facility bond limitation established pursuant to 26 United States Code, Section 1400U-1, as amended, and as described in Internal Revenue Service Notice 2009-50, Section 6.03 is reallocated to the authority, as long as one half of each such allocation is further reallocated by the authority to projects located within and identified by the county commissioners of the county to which such allocation was originally made, if so identified on or before June 1, 2010. The remaining one half of such allocations, together with any portion of an allocation initially subject to reallocation at the direction of the applicable county before June 1, 2010, but not so reallocated, may be reallocated by the authority for any project in any county of the State. Reallocations pursuant to this subsection are considered voluntary and affirmative waivers by the affected counties for the purposes of 26 United States Code, Section 1400U-1 et seq. and any regulations or guidance provided by the United States Department of the Treasury, Internal Revenue Service thereunder.
[PL 2009, c. 517, §11 (NEW).]
SECTION HISTORY
PL 2009, c. 517, §11 (NEW).
2023 Maine Revised Statutes › TITLE 10: COMMERCE AND TRADE › Part 2: BUILDING AND DEVELOPMENT › Chapter 110: FINANCE AUTHORITY OF MAINE › Subchapter 4: MUNICIPAL SECURITIES APPROVAL PROGRAM › 10 §1074-B. Qualified energy conservation bonds

§1074-B. Qualified energy conservation bonds
1.  Reallocation.
To the extent permitted by federal law, 30% of the allocation to the State and to the counties of the State of the national qualified energy conservation bond volume limitation established pursuant to 26 United States Code, Section 54D(e), as amended, and as described in Internal Revenue Service Notice 2009-29, Section 4 is reallocated to the authority as the issuer of qualified energy conservation bonds, for further reallocation by the authority for any project in any county of the State. Reallocations pursuant to this subsection are considered voluntary and affirmative waivers by the affected counties for the purposes of 26 United States Code, Section 54D et seq. and any regulations or guidance provided by the United States Department of the Treasury, Internal Revenue Service thereunder.
[PL 2009, c. 517, §12 (NEW).]
SECTION HISTORY
PL 2009, c. 517, §12 (NEW).