Maine LD506: An Act to Authorize a General Fund Bond Issue for Research and Development and Commercialization

What the bill says

An Act to Authorize a General Fund Bond Issue for Research and Development and Commercialization Received by the Secretary of the Senate on February 7, 2025. Referred to the Committee on Appropriations and Financial Affairs pursuant to Joint Rule 308.2 and ordered printed. DAREK M. GRANT Secretary of the Senate Presented by Senator PIERCE of Cumberland. Cosponsored by Speaker FECTEAU of Biddeford and Senators: BENNETT of Oxford, President DAUGHTRY of Cumberland, GROHOSKI of Hancock, Representatives: CLOUTIER of Lewiston, STROUT of Harrington. Printed on recycled paper Preamble…

From the engrossed text:

An Act to Authorize a General Fund Bond Issue for Research and Development and Commercialization Received by the Secretary of the Senate on February 7, 2025. Referred to the Committee on Appropriations and Financial Affairs pursuant to Joint Rule 308.2 and ordered printed. DAREK M. GRANT Secretary of the Senate Presented by Senator PIERCE of Cumberland. Cosponsored by Speaker FECTEAU of Biddeford and Senators: BENNETT of Oxford, President DAUGHTRY of Cumberland, GROHOSKI of Hancock, Representatives: CLOUTIER of Lewiston, STROUT of Harrington. Printed on recycled paper Preamble. Two thirds of both Houses of the Legislature deeming it necessary in accordance with the Constitution of Maine, Article IX, Section 14 to authorize the issuance of bonds on behalf of the State of Maine to provide funds as described in this Act, Be it enacted by the People of the State of Maine as follows: Sec. 1. Authorization of bonds. The Treasurer of State is authorized, under the direction of the Governor, to issue bonds in the name and on behalf of the State in an amount not exceeding $50,000,000 for the purposes described in section 5 of this Act. The bonds are a pledge of the full faith and credit of the State. The bonds may not run for a period longer than 10 years from the date of the original issue …

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Sponsors

• Teresa Pierce (D, 25) · primary sponsor