| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. 26 MRSA §1412-H is enacted to read: |
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| | | §1412-H.__Transportation Assistance Program |
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| | | There is established within the department the | | Transportation Assistance Revolving Loan Fund, referred to in | | this section as "the fund," to serve as a loan guarantee fund.__ | | The fund supports the Transportation Assistance Program, | | referred to in this section as "the program," to assist | | persons with disabilities who reside in rural areas of the | | State in purchasing used motor vehicles for the purpose of | | traveling to and from work.__The fund and the program must be | | administered in accordance with this section. |
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| | | 1.__Funding.__The fund may be financed through funds | | received from federal, state, county and municipal public | | sources and from private grants and contributions. |
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| | | 2.__Administration.__The fund and the program are | | administered by the Bureau of Rehabilitation Services and the | | Finance Authority of Maine established pursuant to Title 10, | | section 964.__By March 1st each year, the Bureau of | | Rehabilitation Services shall release a request for proposals | | for the following fiscal year soliciting proposals from | | community rehabilitation agencies to administer the program. |
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| | | 3.__Operation.__The fund operates as a loan guarantee fund | | for private-sector originators to offer loans at less than 10% | | per annum interest. |
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| | | 4.__Rules.__The department shall adopt rules necessary for | | implementation of the fund and the program.__Rules adopted | | pursuant to this section are routine technical rules as | | defined in Title 5, chapter 375, subchapter 2-A. |
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| | | This bill establishes the Transportation Assistance | | Revolving Loan Fund and the Transportation Assistance Program | | to assist persons with disabilities in rural areas of the | | State in purchasing used motor vehicles for the purpose of | | traveling to and from work. The fund and the program will be | | administered by the Department of Labor, Bureau of | | Rehabilitation Services in conjunction with the Finance | | Authority of Maine. The fund will guarantee loans for | | private-sector loan originators that offer loans at less than | | 10% per year interest. |
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