HP0052, LD 58, item 1, An Act To Require Transparency of the Ownership of All Companies Providing Funds To Build Infrastructure for Development Purposes

An Act To Require Transparency of the Ownership of All Companies Providing Funds To Build Infrastructure for Development Purposes

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

Sec. 1. 5 MRSA c. 167 is enacted to read:

CHAPTER 167

TRANSPARENCY IN PRIVATE FUNDING OF INFRASTRUCTURE FOR DEVELOPMENT PURPOSES

§ 2041. Private entity ownership information

1. Ownership information. Before a private entity enters into an agreement with a state agency or other governmental entity to provide funding for the construction of infrastructure for development purposes, the private entity must provide complete information about the ownership of the private entity to the state agency or other governmental entity for immediate release to the public. Information in possession of the state agency or other governmental entity about the ownership of the private entity is a public record for the purposes of Title 1, chapter 13, subchapter 1.

2. Application. This chapter applies to all construction of infrastructure for development purposes, including but not limited to transportation-related services and contracts for construction and maintenance that, by law, are under the supervision of the Department of Transportation.

SUMMARY

This bill requires a private entity to provide complete information about the ownership of that entity before it enters into an agreement with a governmental entity to provide funding for the construction of infrastructure for development purposes. The information must be provided to the governmental entity, which shall immediately release that information to the public. Information about such private entities is a public record for the purpose of the Freedom of Access Act.

This bill applies to all construction of infrastructure for development purposes, including contracts that the Department of Transportation supervises.

HP0052 LD 58	Session - 127th Maine Legislature		LR 56 Item 1
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