Maine LD1700: An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator

What the bill says

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator.

From the introduced text:

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator Sec. 1. 35-A MRSA §10129, sub-§4, ¶B, as amended by PL 2021, c. 600, §5, is further amended to read: B. The accelerator may provide capital to qualified projects in the form (2) Credit enhancements, including loan loss reserves and loan guarantees; (3) Aggregation and warehousing; (4) Equity capital; (5) Any other financial product approved by the board; and (6) Leases.; and (7) Direct loans. Sec. 2. Renewable energy generation and grid technology pilot project. The Efficiency Maine Trust shall establish and administer a renewable energy generation and grid technology pilot project, referred to in this section as "the pilot project," through the Maine Clean Energy and Sustainability Accelerator, referred to in this section as "the accelerator," as established in the Maine Revised Statutes, Title 35-A, section 10129, subsection 2. 1. Notwithstanding any provision of Title 35-A, section 10129 to the contrary, the pilot project must be designed to provide financing or investment from the accelerator to those qualified projects for renewable energy generation, as described in Title 35-A, section 10129, subsection 1, paragraph I, subparagraph (1), and grid technology such as storage to support clean energy distribution, including microgrids, as defined in Title 35-A, section 10129, subsection 1, paragraph H, and smart …

Read the full official text

Sponsors

• Melanie Sachs (D, 102) · primary sponsor
• Valli Geiger (D, 42)
• Nicole Grohoski (D, 7)
• Christopher Kessler (D, 121)
• Mark Lawrence (D, 35)
• McIntyre, Mathew (R, 18)
• Walter Runte (D, 146)
• Sophia Warren (D, 124)
• Kilton Webb (D, 98)

Latest actions

1. May 28, 2025: PASSED TO BE ENACTED, in concurrence.
2. May 28, 2025: PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.
3. May 27, 2025: Reports ReadOn motion by Senator LAWRENCE of York the Majority Ought to Pass as Amended Report ACCEPTED. Bill READ ONCE. Committee Amendment "A" (H-241) READ and ADOPTED. Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED by Committee Amendment "A" (H-241) in concurrence.
4. May 22, 2025: Reports READ.On motion of Representative SACHS of Freeport, the Majority Ought to Pass as Amended Report was ACCEPTED.The Bill was READ ONCE.Committee Amendment "A" (H-241) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (H-241). Sent for concurrence. ORDERED SENT FORTHWITH.
5. April 17, 2025: The Bill was REFERRED to the Committee on ENERGY, UTILITIES AND TECHNOLOGY in concurrence
6. April 17, 2025: Committee on Energy, Utilities and Technology suggested and ordered printed. The Bill was REFERRED to the Committee on ENERGY, UTILITIES AND TECHNOLOGY.Sent for concurrence. ORDERED SENT FORTHWITH.

Common questions

What is LD1700?

LD1700 is a bill in the Maine Legislature (132nd Legislature): An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator.

What does LD1700 do?

In its own words: An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator.

What is the status of LD1700?

Signed into law as of June 10, 2025. Latest action: PASSED TO BE ENACTED, in concurrence. (May 28, 2025).

Who sponsored LD1700?

Melanie Sachs (D, 102), with 8 co-sponsors.

Where is the official record for LD1700?

On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1700&snum=132