| | | Be it enacted by the People of the State of Maine as follows: |
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| | | Sec. 1. 10 MRSA §1026-M, sub-§6, ¶B, as amended by PL 1999, c. 401, | | Pt. OOO, §2, is further amended to read: |
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| | | B. Loans over $50,000 for borrowers other than quality | | child care projects may not exceed 1/3 of the net new | | funds being provided to a borrower. Loans of $50,000 or | | less for projects other than quality child care projects | | may not exceed 1/2 of the net new funds being provided to | | a borrower. Loans for quality child care projects may be | | for the total amount of new funds being provided to the | | borrower. |
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| | | This bill amends the requirement of the Regional Economic | | Development Revolving Loan Program that borrowers obtaining | | loans of $50,000 or less must receive a 2-to-one match of the | | funds borrowed from the program, reducing the required match | | to a one-to-one match. |
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