124th MAINE LEGISLATURE
		LD 118		LR 330(01)
	An Act To Further Facilitate the Provision of Educational Loans for Maine Students and Families
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Sen. Bowman of York
	Committee: Education and Cultural Affairs
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Potential contingent liability - General Fund
Fiscal Detail and Notes
	Postponing the deadline after which the Finance Authority of Maine may not establish a capital reserve fund pursuant to Public Law 2007, c. 665 from June 30, 2009 until June 30, 2010 extends the period of time in which the moral obligation of the State is pledged for student loan bonds.  Public Law 2007, c. 665 requires the Finance Authority of Maine to certify to the Governor the amount necessary to restore the balance in the Capital Reserve Fund to no less than the applicable capital reserve requirement and requires the certified amount to be appropriated and paid to the Finance Authority of Maine during that fiscal year.