LD 1614, Page 162 - 121th Legislature, FIRST REGULAR Session

or convenient in the administration of the loan fund and shall

formulate and adopt rules pursuant to Title 5, chapter 375

governing the administration, maintenance, loan disbursements,

loan repayments, making of grants and interest rate subsidies and

collections of the loan fund, and perform all other functions

that the laws of this State specifically authorize or that are

necessary or appropriate. All money and securities in the loan

fund must be held in trust by the Treasurer of State for the

purposes of the loan and interest rate subsidy program

established and grants authorized under section 63 and may not be

money or property for the general use of the State, except that

during the fiscal year ending June 30, 1991, the State may

transfer up to $400,000 to the undedicated General Fund revenues.

The Treasurer of State shall invest the money of the fund in

accordance with law. The fund does not lapse.

2. Loans, interest rate subsidies and grants from fund. The
loan fund may make loans and grants and provide interest rate
subsidies in accordance with section 63.

3. Source of fund. The loan fund ~~shall be~~ is established and
maintained by funds received from the following:

A. Repayments of loans made by the loan fund and accrued
interest on those loans;

B. Interest, income and dividends from investments made by
the Treasurer of State under subsection 1; and

C. Payments pursuant to subparagraph (1).

(1) The commissioner shall assess a levy based on the
total actual workers' compensation premiums paid in
1984 by employers under former Title 39, the Workers'
Compensation Act or under Title 39-A, Part 1, the Maine
Workers' Compensation Act of 1992. As soon as
practicable after July 1, 1985, the commissioner shall
assess upon and collect from each insurance carrier
licensed to do workers' compensation business in the
State an amount equal to 1/2 of 1% of the total
workers' compensation insurance premiums paid to that
insurance carrier during 1984 by employers in the
State. The levy assessment constitutes an element of
loss for the purpose of establishing rates for workers'
compensation insurance.

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