121st Maine Legislature
		Office of Fiscal and Program Review
		LD 660
		An Act To Create the Maine Humanities Authority
		LR 0164(01)
		Fiscal Note for Original Bill
		Sponsor: Rep. Dunlap of Old Town
		Committee: Education and Cultural Affairs
		Fiscal Note Required: Yes
Fiscal Note
Potential future biennium cost increase - General Fund
Fiscal Detail and Notes
	This bill establishes the Maine Humanities Authority and provides for the issuance of revenue bonds and revenue refunding bonds.  The source of revenue to repay the bond proceeds is not identified in the bill nor is there any limit to the amount of bonds that may be issued by the Authority.  Although the legislation indicates that bonds issued by the Authority do not constitute a debt to the State and neither the faith nor credit nor taxing power of the State is pledged, future General Fund appropriations may be needed if there is no funding source to accomodate debt service.