CHAPTER 288

S.P. 523 - L.D. 1554

An Act Regarding Eligibility under the Municipal

Investment Trust Fund

Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and

Whereas, funds from bond issuances will be available to the Municipal Investment Trust Fund in the coming months, and this Act will enable the fund to make grants and loans in a timely manner for critical downtown revitalization projects; and

Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

Be it enacted by the People of the State of Maine as follows:

Sec. 1. 30-A MRSA §5953-D, sub-§1-A, as enacted by PL 1999, c. 776, §13, is amended to read:

1-A. Application for downtown improvement grants and loans. In addition to the other forms of financial assistance available under section 6006-D, an eligible municipality or group of municipalities may apply for a downtown improvement grant or loan from the fund, the proceeds of which must be used to acquire, design, plan, construct, enlarge, repair or protect downtown improvements.