LD 1043
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LD 1043 Title Page An Act to Increase Access to Higher Education Page 2 of 2
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LR 75
Item 1

 
Be it enacted by the People of the State of Maine as follows:

 
Sec. 1. 20-A MRSA c. 419-E is enacted to read:

 
CHAPTER 419-E

 
MAINE EDUCATION FOUNDATION

 
§11701.__Establishment

 
The Maine Education Foundation, referred to in this chapter as
the "foundation," is established to foster, support and assist
qualified residents of the State with the resources necessary to
participate in postsecondary education programs, including
employment opportunities in this State, and to assist in economic
revitalization efforts in the State.__The foundation shall carry
out its purposes in complement to and in coordination with the
postsecondary financing, student financial assistance and
educational attainment activities of State Government, the
Federal Government, institutions of higher education in the State
and the private sector.

 
The foundation exists as a nonprofit corporation with a public
purpose, and the exercise by the foundation of the powers
conferred by this chapter is deemed an essential governmental
function.

 
§11702.__Definitions

 
As used in this chapter, unless the context otherwise
indicates, the following terms have the following meanings.

 
1.__Academic achievement.__"Academic achievement" means
graduation in the top 25% of a class of graduating high school
seniors or earning a grade point average of 2.5 or more, based on
a 4.0 grade point system, or the equivalent, for currently
enrolled college students and all other postsecondary applicants.__
Eligibility for applicants not currently enrolled must be based
upon their most recent cumulative grade point average.

 
2.__Board of directors; board.__"Board of directors" or
"board" means the board of directors of the foundation.

 
3.__Chief executive officer.__"Chief executive officer" means
the chief executive officer of the foundation.

 
4.__College students.__"College students" means those students
who graduated from a high school in the State or the equivalent
and are residents of the State or who did not graduate


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