123rd MAINE LEGISLATURE
LD 2300 LR 3607(02)
An Act To Facilitate the Provision of Educational Loans for Maine Students and Families
Fiscal Note for Bill as Amended by Committee Amendment "     "
Committee: Education and Cultural Affairs
Fiscal Note Required: Yes
             
Fiscal Note
Potential contingent liability - General Fund
Fiscal Detail and Notes
This legislation pledges the moral obligation of the State for student loan bonds.  It allows the Governor to access the State Contingent account to restore balances in the Capital Reserve Fund to no less than the applicable capital reserve requirement.  If sufficient funds are not available in the State Contingent account to fully restore the Fund, the balance must be appropriated and paid to the Finance Authority of Maine during that fiscal year.