LD 1566
pg. 3
Page 2 of 6 An Act To Authorize a General Fund Bond Issue in the Amount of $70,000,000 for ... Page 4 of 6
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LR 2044
Item 1

 
quasi-governmental agencies, excluding

 
organizations eligible to participate in

 
the programs under the Maine Revised

 
Statutes, Title 5, section 13103 and the

 
University of Maine System.

 
Economic and Community Development, Department of

 
$25,000,000

 
Fund, in anticipation of approximately

 
$100,000,000 in federal and private funding,

 
to support capital infrastructure and equipment.

 
Eligible institutions are those delineated in

 
the Maine Revised Statutes, Title 5, section

 
13103.

 
Economic and Community Development, Department of

 
Provide funds to the Applied Technology$1,000,000

 
Development Centers for infrastructure

 
improvements.

 
Agriculture, Food and Rural Resources,

 
Department of

 
Provide funds to Maine Farms for the Future$2,000,000

 
Program.

 
Maine State Housing Authority

 
Provide funds for affordable housing,$13,000,000

 
consistent with the Maine Revised Statutes,

 
Title 30-A, section 4347-A, in

 
anticipation of $30,000,000 in federal

 
and private funding. At least $9,000,000

 
of the funds will be for workforce

 
housing with the balance for other

 
multifamily and single-family housing.

 
__________

 
TOTAL ALLOCATIONS$70,000,000

 
Sec. 7. Contingent upon ratification of bond issue. Sections 1 to 6 do not
become effective unless the people of the State ratify the
issuance of the bonds as set forth in this Act.

 
Sec. 8. Appropriation balances at year-end. At the end of each fiscal
year, all unencumbered appropriation balances representing state
money carry forward. Bond proceeds that have not been expended
within 10 years after the date of the sale of the bonds lapse to
General Fund debt service.


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