CONCEPT DRAFT

SUMMARY

This bill is a concept draft pursuant to Joint Rule 208.

This bill proposes to stimulate economic recovery in Maine in the following ways.

1. Budget matters. Budget matters would be affected by:

A. Eliminating all proposed new spending from the budget enacted during the Second Regular Session of the 120th Legislature;

B. Reducing by 50% all new proposed spending from the budget enacted by the First Special Session of the 120th Legislature;

C. Continuing a hiring freeze on state employment except for emergency positions;

D. Offering an early retirement plan to state employees;

E. Reducing the staff and budget of the Executive Department, State Planning Office by 50%; and

F. Cutting the budget of the Department of Human Services by 25%.

2. Economic growth. Economic growth would be motivated by:

A. Expanding the budgets of economic growth and development programs by 15%;

B. Expanding job retraining and education programs by 33%;

C. Creating new programs to train minorities, immigrants and senior citizens;

D. Using state assets such as land and buildings as collateral for low-interest loans to be used to entice manufacturers to Maine;

E. Eliminating the business equipment property tax;

F. Reducing the tax burden on businesses for one year by 20%; and