reglab/statecodes huggingface dataset:
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-1 - Definitions

Current through 2024-29, July 17, 2024
A.
Reference to Act Definitions
.
				Certain terms used in this rule which are defined in the Finance Authority of
				Maine Act,
				 10 M.R.S.A.
				Section961 and following (the "Act"), shall
				have the meaning set forth in the Act unless clearly specified otherwise or
				unless the context clearly indicates otherwise.
B.
Defined Terms
1. "Chief Executive Officer" means the
				Authority's Chief Executive Officer or a person acting under the supervisory
				control of the Chief Executive Officer.
2. "Program" means the Waste Motor Oil
				Disposal Site Remediation Program, pursuant to which the Authority, as
				authorized by the Act, may from time to time issue revenue obligation
				securities, a portion of the proceeds of which are used to pay the response
				costs of eligible persons with respect to waste motor oil disposal
				sites.
3. "DEP" means the Maine
				Department of Environmental Protection.
4. "EPA" means the United States
				Environmental Protection Agency.
5.
				"PRP" means potentially responsible party.
6. "State" means the State of
				Maine.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-2 - Program Implementation

Current through 2024-29, July 17, 2024
The program shall be administered by and is delegated to, the
				  Chief Executive Officer. All determinations to be made by the Chief Executive
				  Officer hereunder may be made on the basis of such consultation with such
				  advisors and taking into account such other factors as the Chief Executive
				  Officer deems appropriate, in his or her sole discretion.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-3 - Waste Motor Oil Revenue Fund

Current through 2024-29, July 17, 2024
The Waste Motor Oil Revenue Fund, as established in
				   10 M.R.S.A.
				  Section1020(2), shall be
				  deposited with and administered by the Authority. Any reasonable costs of
				  administering the fund incurred by the Authority, including but not limited to
				  costs of public notices required by the Program, costs of preparing for the
				  issuance of, issuing and administering revenue obligation securities issued for
				  Program purposes, amounts necessary to fund a capital reserve fund or other
				  reserve funds determined by the Chief Executive Officer to be necessary or
				  desirable to secure payment of debt service on the revenue obligation
				  securities and fees required to be paid to the Authority pursuant to Chapter
				  202 of the Rules of the Authority (Revenue Obligation Securities Program), may
				  be taken by the Authority from monies in the fund or from sale proceeds of such
				  revenue obligation securities or investment earnings upon such sale proceeds,
				  in the Chief Executive Officer's sole discretion.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-4 - Eligibility

Current through 2024-29, July 17, 2024
A. To be eligible for financial assistance
				under the Program, recipients must be persons that contributed waste motor oil
				to a waste motor oil disposal site and have been designated by the DEP or the
				EPA as responsible parties with respect to the waste motor oil disposal site
				and be one of the following:
1. Responsible
				parties that the DEP or EPA determines are insolvent, unlocated or
				defunct;
2. Responsible parties
				that the DEP or EPA determines have a limited ability to pay;
3. Responsible parties that the DEP or EPA
				determines are responsible for 110 gallons or less of waste motor oil at a
				waste motor oil disposal site;
4.
				The State and any agencies, authorities, departments, boards, commissions or
				instrumentalities of the State or political subdivisions of the
				State;
5. All franchised new car
				and truck dealers licensed pursuant to 29-A M.R.S.A., chapter 9, subchapter 3
				or the successors in interest of any such franchised new car or truck dealers.
				The Secretary of State shall certify to the Authority those responsible parties
				that were licensed pursuant to 29-A M.R.S.A., chapter 9, subchapter
				3;
6. All used car and truck
				dealers licensed in accordance with 29-A M.R.S.A., chapter 9, subchapter 3 or
				the successors in interest of any such used car and truck dealers. The
				Secretary of State shall certify to the Authority those responsible parties
				that were licensed pursuant to 29-A M.R.S.A., chapter 9, subchapter
				3;
7. A person or its successor in
				interest that performed repairs at repair facilities located in the State on
				motor vehicles that are owned by third parties; is identified by the PRP group
				at the waste oil disposal site as qualified under this subsection; and
				certifies to the Authority under oath and subject to the provisions of 17-A
				M.R.S.A. Section451 that it is qualified under this subsection;
8. Any person or its successor in interest
				that performed repairs on its own fleet of motor vehicles is identified by the
				PRP group at the waste motor oil disposal site as qualified under this
				subsection and certifies to the Authority under oath and subject to the
				provision of 17-A M.R.S.A. Section451 that it is qualified under this
				subsection. The motor vehicles at all pertinent times must have been
				registered, garaged and serviced in the State; or
9. Any person or its successor in interest
				that performed repairs, at repair facilities located in the State, on special
				equipment or special mobile equipment, as defined in 29-A M.R.S.A. Section101,
				subsections 69 and 70, is identified by the PRP group at the waste motor oil
				disposal site as qualified under this subsection and certifies to the Authority
				under oath and subject to the provision of 17-A M.R.S.A. Section451 that it is
				qualified under this subsection.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-5 - Certificate of Determination

Current through 2024-29, July 17, 2024
A. The DEP, the EPA
				or the PRP group, as applicable, shall inform the Chief Executive Officer of
				the final remedy selection and response costs for each waste motor oil site.
				The Chief Executive Officer shall be advised in writing of the issuance of the
				final remedy selection and that the remedy will be implemented pursuant to a
				consent decree or other final settlement order or agreement determining
				substantially final response costs for a waste motor oil disposal
				site.
B. After receipt of written
				notice of the issuance of the final remedy selection and that the remedy will
				be implemented pursuant to a consent decree or other final settlement order or
				agreement determining substantially final response costs for a site, the Chief
				Executive Officer shall determine the costs that represent the collective share
				of eligible persons at the site.
1. In
				determining the amount of response costs incurred by an eligible person prior
				to the effective date of a consent decree or other final settlement order or
				agreement, the Chief Executive Officer shall rely on a written certificate of
				costs from the PRP group, if any, at the site, supported by such evidence of
				payment as the Chief Executive Officer may require.
2. In determining the amount of response
				costs incurred by an eligible person prior to the effective date of a consent
				decree or other final settlement order or agreement if no PRP group exists at
				the site, the Chief Executive Officer shall rely on a written certificate of
				costs from each eligible person, supported by copies of invoices, receipts or
				other evidence of payment as the Chief Executive Officer may require.
3. Any written certificate of costs must be
				made under oath and subject to the provisions of 17-A M.R.S.A. Section451. Each
				such certificate of costs and any evidence of payment supporting such
				certificate must be in form and substance acceptable to the Chief Executive
				Officer.
4. In determining the
				amount of response costs to be incurred by an eligible person after the
				effective date of a consent decree or other final settlement order or
				agreement, the Chief Executive Officer shall rely on the final allocation of
				response costs as agreed on by the responsible parties and as reflected in the
				consent decree or other final settlement order or agreement in the form that
				such responsible parties have agreed to and, if applicable, committed to submit
				to a court having jurisdiction of the matter for approval, as evidenced in a
				manner acceptable to the Chief Executive Officer.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-7 - Registry

Current through 2024-29, July 17, 2024
At such time prior to the issuance of revenue obligation
				  securities as the Authority receives the information necessary to do so, the
				  Authority shall establish and publish a registry of all responsible parties who
				  qualify to have their share of response costs paid pursuant to this Program, in
				  accordance with
				   10
				  M.R.S.A. Section1020-A(7).
				  Publication of the registry by the Authority does not guarantee a bond issuance
				  or that proceeds of any bond issuance will be sufficient to pay the response
				  costs of all or any eligible persons in full. The parties responsible for
				  providing the Authority with the information necessary to establish the
				  registry shall provide such information in sufficient time as to allow for
				  preparation and publication of the registry and passage of the period of time
				  to request reconsideration all prior to such time as the Authority deems in its
				  sole discretion is necessary or desirable to proceed with issuance of revenue
				  obligation securities.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 321 - WASTE MOTOR OIL DISPOSAL SITE REMEDIATION PROGRAM › Section 457-321-8 - Waiver of Rule

Current through 2024-29, July 17, 2024
The Chief Executive Officer may waive any requirement of this
				  rule, except to the extent that the requirement is mandated by the Act, in
				  cases where the deviation from the rule is insubstantial and is not contrary to
				  the purposes of the Program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-1 - DEFINITIONS

Current through 2024-29, July 17, 2024
1. "Act" means the Finance Authority of Maine
				Act.
2. "Agricultural enterprise"
				means the growing or raising of plants or animals, harvesting plants or growing
				or obtaining plant or animal by-products, including aquaculture but excluding
				forestry, as well as the storing or packaging of such products.
3. "Applicant" means any for-profit or
				not-for-profit business that meets the eligibility requirements set forth in
				Section 3 and Section 4 of this Rule, and includes a prospective applicant
				where the context requires.
4.
				"Authority" means the Finance Authority of Maine.
5. "Chief Executive Officer" means the
				Authority's Chief Executive Officer or a person acting under the direction of
				the Chief Executive Officer.
6.
				"Dairy enterprise" means producing and treating milk and cream, and the
				manufacture of butter, cheese, and other products processed from
				milk.
7. "Fishing enterprise" means
				catching or growing fish, including shellfish, in fresh or salt water,
				including aquaculture.
8. "Food
				processor" means an enterprise engaged primarily in changing the form of or
				adding value to a food product, including packaging, derived from Maine's
				fishing, agricultural, and dairy enterprises through the application of labor
				or materials or both.
9. "Grant"
				means money awarded by the Authority for the limited purposes and pursuant to
				the terms contained in this Rule.
10. "Grant Recipient" means an eligible
				enterprise that is awarded a grant.
11. "Members" means the members of the
				Finance Authority of Maine.
12.
				"Program" means the Maine Food Processing Grant Program.
13. "Project" means the use to which grant
				proceeds are to be put, as approved by the Chief Executive Officer, including
				the purchase, design, construction, expansion or improvement of processing and
				packaging facilities; and equipment located in Maine and used in connection
				with food processing. Grant proceeds may not be used for marketing, research
				and development, or working capital.
14. "State" means the state of
				Maine.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-2 - PROGRAM IMPLEMENTATION

Current through 2024-29, July 17, 2024
The Program shall be administered by and is delegated to the
				  Chief Executive Officer. The Authority may provide financial assistance in the
				  form of a grant to an eligible recipient on such terms and conditions as the
				  Chief Executive Officer may require or approve.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-3 - ELIGIBILITY

Current through 2024-29, July 17, 2024
To be eligible for a grant under the Program, an applicant
				  must demonstrate each of the following:
1. It is a food processor located in
				Maine.
2. It has submitted an
				acceptable business plan to the Authority demonstrating how the funds will be
				used to benefit the borrower, the food processing industry, and the community
				at large.
3. It has submitted all
				requested application materials by a date to be determined by the
				Authority.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-4 - APPLICATION PROCEDURE

Current through 2024-29, July 17, 2024
1. The grant
				applicant shall complete and return to the Authority by a date specified by the
				Authority a Food Processing Grant application, including supporting schedules.
				No application will be approved unless the Chief Executive Officer determines
				that the application is complete, and the borrower is eligible on the date due.
				The Authority may extend the date or reopen application submissions should
				extra funds remain.
2. The
				Authority will prioritize applications from eligible applicants based on the
				following:
A. The economic feasibility and
				viability of the project;
B. The
				likely benefit of the grant to the financial success of the business;
C. The likely benefit of the grant toward the
				goal of creating and/or retaining Maine jobs;
D. The likely benefit to areas of the state
				having high rates of unemployment;
E. Highest priority shall be given to
				projects that:
(1) seek to redevelop recently
				closed facilities and lead to the re-employment of workers recently laid off as
				a result of such closures;
(2) are
				likely to benefit more than one enterprise;
(3) are likely to have a positive regional
				impact;
(4) contribute additional
				resources to the project.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-5 - GRANT TERMS AND CONDITIONS

Current through 2024-29, July 17, 2024
1. A recipient
				shall be eligible for a grant up to $300,000.00. Grants will be disbursed
				directly to the applicant.
2. Upon
				approval of an application by the Authority, the Authority shall notify the
				applicant of the amount of the grant in a grant award notification letter,
				which shall contain the general terms and conditions of the grant.
3. Prior to disbursement of any Maine Food
				Processing Grant, the applicant shall enter into a Grant Agreement with the
				Authority, specifying the amount of the grant, conditions precedent to
				disbursement, responsibilities of each party, and a schedule of disbursement by
				the Authority.
4. If a grant
				recipient fails to complete the project for which funds were provided within
				two years of receipt of the grant, fails to create or retain jobs, or ceases to
				do business in Maine, all monies awarded may, in the Authority's discretion, be
				required to be repaid and returned to the Authority immediately.
5. In the event an application is not funded,
				the Authority shall notify the applicant in writing with a reason for the
				determination. The notice shall include a statement of the applicant's right to
				appeal the Chief Executive Officer's decision to the members.
6. The grant recipient will be required to
				provide and execute such documentation as the Chief Executive Officer deems
				necessary to ensure the grant is being put to good and appropriate use. Such
				reporting shall include a report to be filed March 1, 2012 and again March 1,
				2013 detailing the uses and benefits of the monies received. A recipient also
				shall provide such other reports and information as may from time to time be
				required by the Authority in order to review the application, monitor
				disbursement of a grant, and evaluate the success of the Program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-6 - WAIVER OF RULE

Current through 2024-29, July 17, 2024
The Chief Executive Officer may waive any requirement of this
				  rule, except to the extent that the requirement is mandated by the Act, in
				  cases where the deviation from the rule is insubstantial and is not contrary to
				  the purposes of the Program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 322 - MAINE FOOD PROCESSING GRANT PROGRAM › Section 457-322-7 - APPEAL TO THE MEMBERS

Current through 2024-29, July 17, 2024
In the event that an application is rejected by the Chief
				  Executive Officer, the applicant shall have the right to appeal the decision of
				  the Chief Executive Officer to the members, provided that such appeal shall not
				  affect processing of other applications. Notice of the appeal, together with a
				  statement of the reasons the Chief Executive Officer's decision should be
				  reversed or modified, shall be given to the Chief Executive Officer in writing
				  within 20 days after the date the Chief Executive Officer mailed the notice of
				  rejection to the applicant. The appeal shall be heard at a meeting of the
				  members. The applicant must be present to support the appeal. The appeal shall
				  be based on the record before the Chief Executive Officer on the date of the
				  denial. The decision of the Chief Executive Officer shall be final unless the
				  members determine that the rejection by the Chief Executive Officer was
				  arbitrary, capricious or an abuse of discretion, in which event the members may
				  overturn or modify the decision of the Chief Executive Officer and may direct
				  the Chief Executive Officer to take further action with respect to the
				  application. Priority of any application with respect to which the Chief
				  Executive Officer's rejection has been overturned or modified shall be
				  determined as of the date and time of receipt of the notice of appeal.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-2 - APPLICATION PROCESS FOR ALLOCATION OF TAX CREDIT AUTHORITY

Current through 2024-29, July 17, 2024
1. A CDE that seeks to obtain an allocation
				of tax credit authority from the Authority pursuant to
				10 M.R.S.A.
				§1100-Z shall file an Allocation
				Application with the Authority and simultaneously pay the Allocation
				Application fee.
2. Within sixty
				days of receipt of an Allocation Application for tax credit authority, the
				Authority shall either approve the Allocation Application and, as part of that
				approval, indicate the amount of tax credit authority issued to the CDE, or
				determine that the Authority intends to deny the Allocation Application. If the
				Authority intends to deny the Allocation Application, it shall inform the CDE
				by written notice of the grounds for the intended denial. Upon receipt of the
				notice of intended denial by the CDE:
A. If
				the CDE provides additional information required by the Authority or otherwise
				completes its Allocation Application within fifteen days, the Allocation
				Application must be considered complete as of the original date of submission
				and the Authority has an additional thirty days to either approve or deny the
				Allocation Application; or
B. If
				the CDE fails to provide the information or complete its Allocation Application
				within the fifteen-day period, the Allocation Application shall be deemed
				denied and may be resubmitted in full with a new submission date.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-3 - INFORMATION REQUIRED ON OR ATTACHED TO THE ALLOCATION APPLICATION

Current through 2024-29, July 17, 2024
The following information shall be required on or attached to
				  the Allocation Application:
1. The
				name, address and tax identification number of the CDE, and evidence of the
				certification of the entity as a qualified community development entity by the
				Secretary of the United States Treasury;
2. A copy of an allocation agreement executed
				by the CDE, its controlling entity or other entity controlled by the same
				controlling entity, and the CDFI Fund, which includes the State in its service
				area;
3. A certificate executed by
				an authorized executive officer of the CDE attesting that the allocation
				agreement remains in effect and has not been revoked or canceled by the CDFI
				Fund;
4. A description of the
				amount of tax credit authority requested and the proposed use of proceeds from
				any qualified equity investments received or long-term debt security issued by
				such CDE for which it intends to seek certification by the Authority under
				10 M.R.S.A.
				§1100-Z; and
5. Responses to the following five questions,
				which must be answered affirmatively or negatively without explanation or
				elaboration (simple yes or no answers), to determine qualification for
				participating in the program:
A. Whether the
				CDFI Fund has awarded multiple rounds of federal New Markets Tax Credit
				allocation to the CDE, its controlling entity or other entity controlled by the
				same controlling entity;
B. Whether
				the CDE, its controlling entity or other entity controlled by the same
				controlling entity, has participated as a qualified community development
				entity in a state New Markets Tax Credit program or has made an investment in
				this State that qualifies for federal New Markets Tax Credits;
C. Whether the CDE, its controlling entity or
				other entity controlled by the same controlling entity, has made an investment
				qualified for tax credits in a business located in a non-metropolitan census
				tract;
D. Whether the CDE, its
				controlling entity or other entity controlled by the same controlling entity,
				has made an investment qualified for tax credits in a state where it did not
				previously have substantial operations; and
E. Whether the CDE, its controlling entity or
				other entity controlled by the same controlling entity, has explored potential
				investment opportunities in this State that would qualify for credits under the
				Program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-4 - AWARD OF ALLOCATION OF TAX CREDIT AUTHORITY; TERM OF AWARD

Current through 2024-29, July 17, 2024
1. A complete Allocation Application that
				affirmatively answers at least four of the questions described in Section
				3, Subsection
				6 of this Rule shall be approved by
				the Authority and awarded an allocation of tax credit authority pursuant to
				10 M.R.S.A.
				§1100-Z in the amount sought in the
				Allocation Application, but in no event shall the aggregate allocation to any
				CDE and its affiliates exceed $62,500,000 of investments, and provided,
				further, that there remains sufficient allocation authority to fully award the
				amount sought (up to the per CDE and affiliates limit of $62,500,000 of
				investments) of each Allocation Application approved by the Authority and
				received on the same date. If there is not sufficient remaining allocation
				authority to fully award allocations to Applicants submitting approved
				Allocation Applications received on the same date, the awards among such
				Applicants shall be pro-rated as provided in Section 2, Subsection
				4 of this Rule. The Authority shall
				provide written notification of an award of allocation authority to the
				Applicant. In no event shall the Authority authorize more than $250,000,000 in
				aggregate investments eligible for tax credit authority, or more aggregate tax
				credit authority than such amount that, if all allocated authority resulted in
				certified qualified equity investments eligible for program tax credits
				simultaneously, no more than $20,000,000 of credits could be taken or refunded
				in any one fiscal year.
2. An
				allocation of authority under this Section shall be valid for up to two years.
				A CDE obtaining allocation may sub-allocate all or a portion of its allocation
				to one or more subsidiary CDE's, provided the parent CDE files notice of such
				sub-allocation to the Authority, together with a certification that the
				subsidiary CDE is a subsidiary and meets all the requirements of a CDE under
				this Rule, and all of the information required by Section
				3(1) of this Rule for
				such subsidiary. In the event that a CDE obtaining an allocation, or one or
				more of its subsidiary CDE's to which it has sub-allocated, does not receive
				qualified equity investments equaling or exceeding the allocation amount within
				two years of the date of the allocation, and provide proof of each of the same
				to the Authority within ten days of the investment, that portion of the
				allocation that exceeds the aggregate amount of qualified equity investments
				certified by the Authority for such CDE shall lapse and no longer be allocated
				or available to the CDE, and may be re-allocated by the Authority in accordance
				with
				10 M.R.S.A.
				§1100-Z and this Rule.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-5 - CERTIFICATION OF ELIGIBILITY FOR TAX CREDITS

Current through 2024-29, July 17, 2024
1.
				To the extent a CDE obtains equity investments or issues long-term debt
				securities within two years of the allocation of tax credit authority, the CDE
				may file a Certification Application seeking that the Authority certify such
				equity investments or issuance of long-term debt securities as qualified equity
				investments eligible for tax credits under
				10 M.R.S.A.
				§1100-Z. The Certification Application
				must contain the following information:
A.
				Information regarding the proposed use of the proceeds from the equity
				investments or issuance of long-term debt securities, including: a description
				of the qualified active low-income community business in which the proceeds
				will be invested; the proposed use or uses of the proceeds by the qualified
				active low-income community business; and the low-income community or
				communities in which the proceeds will be expended;
B. The name and identification number of
				investor, type of investment (whether debt or equity), purchase price, and
				nature of consideration received and date of receipt, for each investment for
				each taxpayer making a equity investment or being issued a long-term debt
				security;
C. A signed certification
				indicating that the Certification Application has been executed by an executive
				officer of the CDE, declaring under the penalty of perjury:
(1) That the Applicant's allocation agreement
				remains in effect and has not been revoked or canceled by the CDFI Fund;
				and
(2) That the cash purchase
				price for the investment has been received; and
(3) That the statements in the original
				Allocation Application, as well as in the Certification Application, including
				all accompanying documents and statements, are and remain true, correct and
				complete as of the date of the Certification Application;
D. A description of the fees to be charged as
				part of the investment transaction; and
E. The Certification Application
				Fee.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-6 - REPORTING REQUIREMENTS; RECAPTURE

Current through 2024-29, July 17, 2024
1. A CDE that
				has been awarded tax credit allocation authority pursuant to Section
				4 that has not submitted Certification
				Applications as to all of its allocation authority must file an annual report
				with the Authority on April 30, 2013 for the preceding calendar year, and each
				succeeding April 30 for the preceding calendar year, until all of its awarded
				allocation has been certified or has lapsed, in each case with the Annual
				Report Fee, providing the following information:
A. A summary of activity of the CDE in
				seeking qualified equity investments that have not been certified;
B. The total amount of investment received by
				the CDE to date that have not been certified, including investments for which
				it intends to seek certification;
C. To the extent investments have been
				received and not certified, the qualified active low-income community business
				in which such investments are intended to be re-invested by the CDE;
D. To the extent investments have been
				received but not certified, the proposed use or uses of the proceeds by the
				qualified active low-income community business if so re-invested by the
				CDE;
E. To the extent investments
				have been received and not certified, the low-income community or communities
				in which the proceeds will be expended by the qualified active low-income
				community business if so re-invested by the CDE;
F. The date by which the CDE intends to file
				its Certification Applications;
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-7 - WAIVER OF RULE

Current through 2024-29, July 17, 2024
The chief executive officer may waive any requirement of
				  this rule, except to the extent that the requirement is mandated by statute, in
				  cases where the deviation from the rule is insubstantial and is not contrary to
				  the purposes of the program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 325 - MAINE NEW MARKETS CAPITAL INVESTMENT PROGRAM (Amendment 3) › Section 457-325-8 - RETOACTIVE EFFECT OF AMENDMENT 3

Current through 2024-29, July 17, 2024
The changes made by Amendment 3 of this rule, on both an
				  emergency and non-emergency basis, shall apply to all Certification
				  Applications not yet approved on the effective date of such amendments.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-2 - Program Implementation and Assistance Provided

Current through 2024-29, July 17, 2024
The program shall be administered by and is delegated to,
				  the Chief Executive Officer. The Authority may provide financial assistance in
				  the form of aloan in the amount actually necessary to complete a project up to
				  $400,000 to an eligible borrower. Assistance under this program shall be from
				  the Clean Water State Revolving Fund pursuant to agreement among the Authority,
				  the Maine Municipal Bond Bank and the MDEP.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-3 - Eligibility

Current through 2024-29, July 17, 2024
A. To be eligible for financial assistance
				under the program, a borrower must demonstrate at least one of the following:
1. The borrower is the owner or operator of
				an existing underground oil storage facility or underground tank which a) is
				located on premises which are not used solely for residential, including rental
				residential, purposes; and b) is leaking or has been identified by the MDEP as
				posing an environmental threat, or removal is required by applicable law or
				rule;
2. The borrower is required
				by applicable law or regulation to install equipment related to air quality
				improvement in association with a project described in subsections
				1, 3, or
				4 of this section
				3(A);
3. The borrower is constructing, replacing or
				renovating an aboveground tank or an aboveground facility and the work is being
				supervised by a State registered professional engineer or State certified tank
				installer with training and experience in aboveground oil storage facility
				installation; or
4. The borrower is
				renovating an underground oil storage tank or facility, and the work is
				supervised by an underground oil storage tank installer certified by the Maine
				Board of Underground Storage Tank Installers and the estimated cost of the work
				is greater than $1,000.
Notwithstanding anything herein to the contrary, owners or
				  operators of 15 or more gasoline service stations are not eligible for
				  financial assistance under the program.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-4 - Application Procedure and Content

Current through 2024-29, July 17, 2024
Each borrower shall submit an application to the Chief
				  Executive Officer on such forms and with such attachments as the Chief
				  Executive Officer may require consistent with the purposes of the program and
				  this rule. The Chief Executive Officer will review each application for
				  completeness and eligibility. Applications that are not substantially complete
				  may be deemed not received until completed. The Chief Executive Officer shall
				  determine when an application is received, which determination shall be final.
				  An application shall contain, at a minimum, such general information
				  identifying and describing the borrower, the proposed project, and the proposed
				  financing of the project as specified in the application form and as otherwise
				  requested by the Chief Executive Officer.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-5 - Criteria and Considerations

Current through 2024-29, July 17, 2024
A. No application
				will be approved unless the MDEP and the Chief Executive Officerdetermine that
				the borrower is eligible and that the loan proceeds will be used for a
				project.
B. No application will be
				approved unless the Chief Executive Officer determines that the application is
				complete and that information sufficient to make an informed decision on the
				application has been received.
C.
				The Authority may rely upon information provided to it by the MDEP regarding
				whether a project is eligible. MDEP shall certify to the Authority the
				eligibility of applicants under Section
				3(A) of this
				rule.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-6 - Terms and Conditions; Fees and Other Charges

Current through 2024-29, July 17, 2024
A.
				Periodic payments of principal and interest on loans shall be established in
				accordance with a borrower's individual needs.
B. Loans shall not exceed terms of 15
				years.
C. Additional requirements
				and covenants of each loan may be established, provided that each borrower
				shall at a minimum be required to maintain and repair collateral, maintain
				adequate insurance covering public liability, hazard, and flood insurance if
				the borrower is located in a flood plain, and comply with all applicable
				federal, State and local laws, regulations, ordinances and orders. Each
				borrower shall also be required to maintain such environmental liability
				insurance as may be required by the Chief Executive Officer.
D. The borrower shall pay to the Authority a
				loan origination fee equal to 1.5% of the loan amount as follows: 1% due at
				closing and .5% payable monthly over the first year of the loan. Commencing on
				the first anniversary date of the loan and annually thereafter, the borrower
				shall also pay to the Authorityan annual loan administration fee in an amount
				equal to .75% of the outstanding principal balance of the loan remaining due,
				payable over the next 12 months of the loan. The borrower shall be responsible
				for the Authority's attorney's fees (whether of the Authority's legal division
				or outside counsel) and all out of pocket costs and expenses of underwriting,
				closing, administering and collecting the loan.
E. Closing costs, but not loan origination or
				administration fees, may be financed.
F. Any loan made pursuant to this program may
				be assumed by a purchaser of the premises from which the facility or tank is
				removed, provided that the loan may only be assumed by a for profit entity
				which would be eligible for a loan on the same terms and conditions as the
				original borrower. The eligibility of any such assuming entity shall be
				determined by the Chief Executive Officer.
G. Installation, renovation, and removal of
				any underground oil storage tank facility and equipment must be completedin
				accordance with 06-096 CMR Chapter 691 of the rules of the MDEP and applicable
				law, by or under the direction of a person certified by the Maine Board of
				Underground Storage Tank Installers. All disposal of tanks and facilities shall
				be in accordance with applicable laws. The Authority may require evidence of
				compliance with these conditions.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-7 - Collateral

Current through 2024-29, July 17, 2024
A. Repayment of any loan pursuant to the
				program shall be secured by such collateral as the Chief Executive Officer may
				require, including without limitation, a mortgage or security interest in real
				estate, buildings or personal property of the business entity, subject only to
				such other encumbrances as the Chief Executive Officer may approve, assignment
				or pledges of leases, and personal or corporate guarantees. Personal guarantees
				of the principals shall be required unless compelling reasons are presented
				justifying not requiring a guarantee.
B. Loans may, at the discretion of the Chief
				Executive Officer, be secured by collateral valued for collateral purposes at
				less than the amount of the loan, when necessary to ensure the replacement of a
				facility or tank or the installation of equipment related to the improvement of
				air quality required to be replaced or installed under applicable
				law.
C. Real estate or stationary
				machinery or equipment constituting a significant portion of collateral for
				repayment of a loan shall be located within the State. Mobile machinery or
				equipment, including vessels, constituting a significant portion of collateral
				for repayment of the loan shall be registered with and taxed by the State or
				municipal authorities, if the State or municipal authorities register or tax
				machinery or equipment of a type similar to the collateral, and shall be stored
				or berthed in the State when not in use.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-8 - Commitment

Current through 2024-29, July 17, 2024
A. Upon approval of a loanapplication by the
				Chief Executive Officer, a commitment will be issued setting forth the terms
				and conditions upon which the loan will be extended.
B. In the event the Chief Executive Officer
				rejects any application, the Chief Executive Officer will promptly send the
				applicant notice containing reasons for the rejection. The notice shall include
				a statement of the applicant's right to appeal the Chief Executive Officer's
				decision to the members.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 326 - COMPLIANCE ASSISTANCE LOAN PROGRAM › Section 457-326-9 - Appeal to the Members

Current through 2024-29, July 17, 2024
In the event that an application is rejected by the Chief
				  Executive Officer, the applicant shall have the right to appeal the decision of
				  the Chief Executive Officer to the members, provided that such appeal shall not
				  affect processing of other applications received prior to the notice of appeal.
				  Notice of the appeal, together with a statement of the reasons why the Chief
				  Executive Officer's decision should be reversed or modified, shall be given to
				  the Chief Executive Officer in writing within 20 days after the date the Chief
				  Executive Officer mailed the notice of rejection to the applicant. The appeal
				  shall be heard at a meeting of the members, and the applicant must be present
				  to support the appeal. The appeal shall be based on the record before the Chief
				  Executive Officer on the date of the rejection. The decision of the Chief
				  Executive Officer shall be final unless the members determine that the
				  rejection by the Chief Executive Officer was arbitrary, capricious or an abuse
				  of discretion, in which event the members may overturn or modify the decision
				  of the Chief Executive Officer and may direct the Chief Executive Officer to
				  take further action with respect to the application. Priority of any
				  application with respect to which the Chief Executive Officer's rejection has
				  been overturned or modified shall be determined as of the date and time of
				  receipt of the notice of appeal.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 601 - THE MAINE STATE GRANT PROGRAM (MSGP) › Section 457-601-2 - Student Eligibility

Current through 2024-29, July 17, 2024
To be eligible for consideration for the Program the student
				  must be a full-time student or a part-time student and meet each of the
				  following eligibility criteria:
A. The
				student must be a U.S. citizen or an eligible noncitizen as defined in Title IV
				of the Higher Education Act of 1965, Section 484, as amended, United States
				Code, Title 20, Section 1091; and the regulations, guidelines and procedures
				promulgated by the Secretary of Education and published in the Federal Register
				pursuant thereto.
B. The student
				must be a resident of the State and shall have graduated from an approved
				secondary school (or matriculated at an approved post-secondary school prior to
				high school graduation) or successfully completed a general education
				development examination or its equivalent.
C. The student must be accepted for
				enrollment as an undergraduate in an eligible program of study or be in good
				standing as an undergraduate for a first baccalaureate degree at an institution
				of higher education according to the prescribed standards, regulations, and
				practices of that institution; meet the required academic standards for
				admissions and have not received a previous baccalaureate degree and qualify
				under Section
				6.
D. The student must have need as determined
				by the Authority pursuant to Section
				5.
E. The student must not owe a refund to or be
				in default of any educational grant or loan programs.
F. The student must annually apply to
				participate in the MSGP by completing such application forms as may be
				designated by the Chief Executive Officer and filing the complete application
				with the designated recipient by the deadline established each year by the
				Authority.
Whether a student is an independent student or a dependent
				  student shall be determined on the basis of the applicant's information
				  reported on the required application and is subject to verification by the
				  institution.
Code of Maine Rules › 94 - INDEPENDENT AGENCIES › 457 - FINANCE AUTHORITY OF MAINE (FAME) › Chapter 601 - THE MAINE STATE GRANT PROGRAM (MSGP) › Section 457-601-3 - Institution Eligibility

Current through 2024-29, July 17, 2024
To be eligible to participate in the Program an institution
				  must:
A. Meet the definition of
				institution of higher education set forth in Section
				1(J).
B. Submit cost of attendance figures and
				other reports as requested by the Authority.
C. Have one person designated as the contact
				person for the Maine State Grant Program.
D. Certify that the student recipient is an
				eligible student within institutional standards or by utilizing federal
				financial aid guidelines.
E.
				Certify that the student is maintaining satisfactory progress in a course of
				study according to the standards and practices of the institution.
F. Certify that the student does not owe a
				refund on any grant previously received under the Federal Pell Grant or Federal
				Supplemental Educational Opportunity Grant (SEOG) programs.
G. Certify that the student is not in default
				on any loan made, insured, or guaranteed under the Federal Perkins Loan, the
				Federal Direct Student Loan Program or the Federal Family Education Loan
				Program.
H. Certify to the best of
				its knowledge and belief that the student's dependency status is as shown on
				the required application and that it has no conflicting information.
I. Certify that appropriate auditing and
				control procedures have been utilized in the operation of the Program at the
				institutional level.
J. Certify
				that no student has received an over-award.
K. Have a drug/alcohol free workplace policy
				and have related policies for student recipients in place.