Maine legislation · 132nd Legislature
Maine LD1208: An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers
Status: Signed into law, July 1, 2025
What the bill says
An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers.
From the engrossed text:
An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers Sec. 1. 5 MRSA §1511, as corrected by RR 2023, c. 2, Pt. A, §12, is amended to read: §1511. Loan Insurance Reserve The State Controller may, at the close of each fiscal year, as the next priority after the transfers authorized pursuant to section 1507, transfer from the unappropriated surplus of the General Fund to the Loan Insurance Reserve amounts as may be available from time to time, up to an amount of $1,000,000 per year after the transfers have been made pursuant to section 1507. The balance of this reserve must be paid to the Finance Authority of Maine if such payment does not cause the balance in the reserve fund maintained by the authority, when added to amounts held in the Finance Authority of Maine Mortgage Insurance Fund that are not committed or encumbered for another purpose, to exceed $50,000,000 $65,000,000. Any balance in the Loan Insurance Reserve is appropriated for this purpose. Page 1 - 132LR1616(03)
Sponsors
- Curry, Chip (D, 11) · primary sponsor
- Richard Bennett (R, 18)
- Amanda Collamore (R, 68)
- Traci Gere (D, 134)
Latest actions
- : On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table PASSED TO BE ENACTED in concurrence.
- : On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.
- : PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
- : CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-244).In concurrence. ORDERED SENT FORTHWITH.
- : Report READ and ACCEPTED.READ ONCE.Committee Amendment "A" (S-244) READ and ADOPTED.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-244).Ordered sent down forthwith for concurrence.
- : CARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
- : The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT.In concurrence. ORDERED SENT FORTHWITH.
- : Committee on HOUSING AND ECONOMIC DEVELOPMENT suggested and ordered printed REFERENCE to the Committee on HOUSING AND ECONOMIC DEVELOPMENT Ordered sent down forthwith for concurrence
Subjects: Legislature, ADMINISTRATION, FINANCE AUTHORITY, Senate, Other, LOAN INSURANCE RESERVES
Common questions
- What is LD1208?
- LD1208 is a bill in the Maine Legislature (132nd Legislature): An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers.
- What does LD1208 do?
- In its own words: An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers.
- What is the status of LD1208?
- Signed into law as of July 1, 2025. Latest action: On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table PASSED TO BE ENACTED in concurrence. (June 25, 2025).
- Who sponsored LD1208?
- Curry, Chip (D, 11), with 3 co-sponsors.
- Where is the official record for LD1208?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1208&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.