LD 292 LR 427(01)
An Act To Increase the Minimum Grant Amount under the Maine State Grant Program
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Pierce of Falmouth
Committee: Innovation, Development, Economic Advancement and Business
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2021-22 FY 2022-23 Projections  FY 2023-24 Projections  FY 2024-25
Net Cost (Savings)
General Fund $10,000,000 $10,000,000 $10,000,000 $10,000,000
General Fund $10,000,000 $10,000,000 $10,000,000 $10,000,000
Fiscal Detail and Notes
This bill includes ongoing General Fund appropriations of $10,000,000 per year beginning in fiscal year 2021-22 to the Student Financial Assistance Programs within the Finance Authority of Maine to increase the minimum grant award for the Maine State Grant Program from $1,000 to $2,500.