128th MAINE LEGISLATURE
		LD 1839		LR 2828(01)
	An Act To Amend the Law Regarding the Interest Rate for State Loans under the Potato Marketing Improvement Fund
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Jackson of Aroostook
	Committee: Agriculture, Conservation and Forestry
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Reduction in interest earnings - Potato Marketing Improvement Fund
Fiscal Detail and Notes
	Changing the interest rate on loans made through the Potato Marketing Improvement Fund from a fixed rate of 5% to the federal prime rate at the time of the loan closing up to a maximum of 5% will reduce the amount of interest paid on the loan and deposited into the fund for future use.  The reduction in interest earnings will depend on the number of loans issued at an interest rate that is lower than the current 5% rate.