| 122nd MAINE LEGISLATURE | |||||||||
| LD 889 | 0185(01) | ||||||||
| An Act To Create the County Government Capital Improvements Revolving Loan Fund | |||||||||
| Fiscal Note for Original Bill | |||||||||
| Sponsor: Sen. Weston of Waldo | |||||||||
| Committee: State and Local Government | |||||||||
| Fiscal Note Required: Yes | |||||||||
| Fiscal Note | |||||||||
| No net fiscal impact | |||||||||
| Fiscal Detail and Notes | |||||||||
| Creating the County Government Capital Improvements Revolving Loan Fund should have no financial impact on the state's General Fund for the biennium. The Maine Municipal Bond Bank will pay for the operation of the Fund from a 2% fee as stipulated in the proposed legislation and there is no General Fund appropriation to place money in the Fund. This legislation does not appear to set up another entity as a program administrator to assist in decisions on who may be eligible for a loan from the Revolving Loan Fund. Any financial impact resulting from the participation of a program administrator can not be determined at this time. Also, it is unclear as to how the capitalization of grants and awards made to the state will be deposited in the fund without need for appropriation and how that can be implemented through other state departments and agencies. | |||||||||