Maine legislation · 132nd Legislature
Maine LD1500: An Act to Establish the Maine Community Development Financial Institution Fund to Support Small Businesses, Rural Economic Development and Affordable Housing
Status: Signed into law, January 11, 2026
What the bill says
An Act to Establish the Maine Community Development Financial Institution Fund to Support Small Businesses, Rural Economic Development and Affordable Housing.
From the introduced text:
An Act to Establish the Maine Community Development Financial Institution Fund to Support Small Businesses, Rural Economic Development and Affordable Housing Sec. 1. 5 MRSA §135, as amended by PL 2021, c. 231, §1, is further amended by enacting after the 7th paragraph a new paragraph to read: The Treasurer of State may deposit, if funds are available, an amount not to exceed $10,000,000 in each calendar year with community development financial institutions authorized to do business in the State at a rate of return not more than 2% per year below the rate of return otherwise obtainable had the funds been invested with other financial institutions for a similar term, as determined by the Treasurer of State, for periods not to exceed 2 years. For the purposes of this paragraph, "community development financial institution" has the same meaning as in section 13056-K, subsection 1, paragraph A. Sec. 2. 5 MRSA §13056-K is enacted to read: §13056-K. Maine Community Development Financial Institution Program 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Community development financial institution" means an institution that, as determined by the Secretary of State, (2) Subject to oversight by applicable federal or state financial institution or insurance regulatory agencies, if applicable; and (3) Certified by the …
Sponsors
- Melanie Sachs (D, 102) · primary sponsor
- Aaron Dana (D, 64)
- Daughtry, Matthea E. L. (D, 23)
- John Ducharme (R, 71)
- Ryan Fecteau (D, 132)
- Traci Gere (D, 134)
- Marc Malon (D, 133)
- Cameron Reny (D, 13)
- Amy Roeder (D, 23)
- Stewart, Trey L. (R, 2)
Latest actions
- : HELD BY THE GOVERNOR.
- : PASSED TO BE ENACTED, in concurrence.
- : PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
- : The House RECEDED and CONCURRED to PASSAGE TO BE ENGROSSED as Amended by Committee Amendment "A" (H-446) as Amended by Senate Amendment "A" (S-477) thereto.ORDERED SENT FORTHWITH.
- : On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table On motion by Same Senator the Senate SUSPENDED THE RULES to RECONSIDER their actions whereby the Bill was PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (H-446) On further motion by Same Senator the Senate SUSPENDED THE RULES to RECONSIDER their actions whereby Committee Amendment "A" (H-446) was ADOPTED. On further motion by Same Senator Senate Amendment "A" (S-477) to Committee Amendment "A"
- : 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.
- : Report READ and ACCEPTED, in concurrence.READ ONCE.Committee Amendment "A" (H-446) READ and ADOPTED, in concurrence.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (H-446), in concurrence.Ordered sent down 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" (H-446).Sent for concurrence. ORDERED SENT FORTHWITH.
- : The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT in concurrence
Subjects: COMMUNITY DEVELOPMENT FUND, ECONOMIC DEVELOPMENT, Legislature, Senate, Other, PLANNING
Common questions
- What is LD1500?
- LD1500 is a bill in the Maine Legislature (132nd Legislature): An Act to Establish the Maine Community Development Financial Institution Fund to Support Small Businesses, Rural Economic Development and Affordable Housing.
- What does LD1500 do?
- In its own words: An Act to Establish the Maine Community Development Financial Institution Fund to Support Small Businesses, Rural Economic Development and Affordable Housing.
- What is the status of LD1500?
- Signed into law as of January 11, 2026. Latest action: HELD BY THE GOVERNOR. (July 8, 2025).
- Who sponsored LD1500?
- Melanie Sachs (D, 102), with 9 co-sponsors.
- Where is the official record for LD1500?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1500&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.