| | |
develop, realign, streamline and oversee the State's economic | | development policy and specific efforts to retain and attract young | | people, to the joint standing committee of the Legislature having | | jurisdiction over education matters and to the joint standing | | committee of the Legislature having jurisdiction over business | | matters no later than January 15, 2005 and annually thereafter. |
|
| | | Sec. 2. Appropriations and allocations. The following appropriations and | | allocations are made. |
|
| | | FINANCE AUTHORITY OF MAINE |
|
| | | Future for Youth in Maine Loan |
|
| | | Initiative: Provides funds for loan repayment for graduates who | | are employed in new technology-based businesses or in occupations | | or industries that are facing labor shortages. |
|
| | | General Fund | 2003-04 | 2004-05 |
|
| | | General Fund Total | $0 | $1,000,000 |
|
| | | This bill establishes the Future for Youth in Maine Loan | | Repayment Program to recruit and retain college graduates to | | start new technology-based businesses and to work in occupations | | and industries facing labor shortages in the State. The program | | provides loan repayments of up to $5,000 per year for a maximum | | of 4 years for graduates who are employed in new technology-based | | businesses within the Applied Technology Development Center | | System or in occupations or industries that are facing labor | | shortages. The bill directs the Finance Authority of Maine to | | administer the program. |
|
|
