127th MAINE LEGISLATURE
LD 1655 LR 2721(03)
An Act To Increase the Number of Science, Technology, Engineering and Mathematics Professionals in the State
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
             
Fiscal Note
Creates new loan program - Finance Authority of Maine
Fiscal Detail and Notes
This legislation establishes the Maine Science, Technology, Engineering and Mathematics Loan Program within the Finance Authority of Maine (FAME) to provide loans of up to $7,500 to eligible students in the fields of science, computer science, technology, engineering and mathematics.  A fund is established to receive money from gifts, grants, bequests and donations, in addition to money appropriated or allocated by the Legislature and any federal funds received by the State for this purpose.  Administration costs of FAME will be reimbursed from interest received on fund balances.  FAME has indicated that it will be able to implement and administer the program within the provisions established in the bill.