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PUBLIC LAWS OF MAINE
First Regular Session of the 121st

CHAPTER 288
S.P. 523 - L.D. 1554

An Act Regarding Eligibility under the Municipal Investment Trust Fund

     Emergency preamble. Whereas, Acts of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and

     Whereas, funds from bond issuances will be available to the Municipal Investment Trust Fund in the coming months, and this Act will enable the fund to make grants and loans in a timely manner for critical downtown revitalization projects; and

     Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore,

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

     Sec. 1. 30-A MRSA §5953-D, sub-§1-A, as enacted by PL 1999, c. 776, §13, is amended to read:

     1-A. Application for downtown improvement grants and loans. In addition to the other forms of financial assistance available under section 6006-D, an eligible municipality or group of municipalities may apply for a downtown improvement grant or loan from the fund, the proceeds of which must be used to acquire, design, plan, construct, enlarge, repair or protect downtown improvements.

The bank, in conjunction with the Department of Economic and Community Development, may prescribe an application form or procedure for an eligible municipality or group of municipalities to apply for a grant or a loan under this subsection. The application must include all information necessary for the purpose of implementing this section and section 6006-D.

     Sec. 2. 30-A MRSA §5953-D, sub-§3, ¶¶D and E, as repealed and replaced by PL 2001, c. 667, Pt. A, §49, are amended to read:

     Sec. 3. 30-A MRSA §5953-D, sub-§4-A, as enacted by PL 1999, c. 776, §13, is amended to read:

     4-A. Criteria; conditions for downtown improvement grants or loans. The Department of Economic and Community Development, in conjunction with the bank, shall develop criteria and conditions for the award of downtown improvement grants or loans to eligible municipalities after consultation with the state agencies listed in subsection 5 and subject to the requirements of this section. The department shall establish a preference for municipalities that are regional service centers or urban compact municipalities or have adopted a comprehensive plan consistent with section 4326.

     Sec. 4. 30-A MRSA §6006-D, sub-§2, ¶¶B and C, as corrected by RR 1993, c. 2, §31, are amended to read:

     Emergency clause. In view of the emergency cited in the preamble, this Act takes effect when approved.

Effective May 23, 2003.

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