Maine LD690: An Act to Authorize a General Fund Bond Issue to Provide Funding for Affordable and Low-income Housing Programs

What the bill says

An Act to Authorize a General Fund Bond Issue to Provide Funding for Affordable and Low-income Housing Programs Received by the Secretary of the Senate on February 20, 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 Representative GERE of Kennebunkport and Senators: BENNETT of Oxford, CURRY of Waldo, President DAUGHTRY of Cumberland, Representatives: CLOUTIER of Lewiston, Speaker FECTEAU of Biddeford…

From the introduced text:

An Act to Authorize a General Fund Bond Issue to Provide Funding for Affordable and Low-income Housing Programs Received by the Secretary of the Senate on February 20, 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 Representative GERE of Kennebunkport and Senators: BENNETT of Oxford, CURRY of Waldo, President DAUGHTRY of Cumberland, Representatives: CLOUTIER of Lewiston, Speaker FECTEAU of Biddeford. 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 $100,000,000 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 …

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Sponsors

• Teresa Pierce (D, 25) · primary sponsor