130th MAINE LEGISLATURE
		LD 204		LR 326(02)
	An Act To Amend the Law Regarding the Interest Rate for State Loans under the Potato Marketing Improvement Fund
	Fiscal Note for Bill as Amended by Committee Amendment " "
	Committee: Agriculture, Conservation and Forestry
	Fiscal Note Required: Yes
Fiscal Note
Reduction in interest earnings - Potato Marketing Improvement Fund
Fiscal Detail and Notes
	Changing the interest rate on loans made through the Potato Marketing Improvement Fund from a fixed rate of 5% to the federal prime rate at the time of the loan commitment up to a maximum of 5% will reduce the amount of interest paid on the loan and deposited into the fund for future use.  The reduction in interest earnings will depend on the number of loans issued at an interest rate that is lower than the current 5% rate.