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132nd MAINE LEGISLATURE |
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LD 1812 |
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LR 1301(02) |
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An Act to Provide
Low-interest Loans for Accredited College Graduates Entering Trade
Professions and an Employer Tax Credit for Trade Tool Reimbursements |
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Fiscal Note for
Bill as Amended by Committee Amendment " " |
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Committee: Housing and Economic Development |
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Fiscal Note Required: Yes |
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| Fiscal Note |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$1,000,000 |
$1,000,000 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$1,000,000 |
$1,000,000 |
$0 |
$0 |
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| Fiscal Detail
and Notes |
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This bill includes
one-time General Fund appropriations of $1.0 million per year for fiscal year
2025-26 and fiscal year 2026-27 only to a newly created Loans for Trade Tools
Fund within the Finance Authority of Maine (FAME) established for the purpose
of making low-interest loans to eligible borrowers to purchase trade tools
necessary for employment in a trade.
This bill allows FAME to charge the fund for its reasonable
administrative costs, so no additional General Fund appropriations are
required. |
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