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An Act To Enable Municipalities To Establish Business Development Loan Programs Using Municipally Raised or Appropriated Money
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5726, sub-§13, as enacted by PL 2001, c. 78, §2, is amended to read:
 
13. Elderly housing.   Provide municipally owned rental housing for the elderly; and
Sec. 2. 30-A MRSA §5726, sub-§14, as enacted by PL 2001, c. 78, §2, is amended to read:
 
14. Affordable housing.   Facilitate affordable housing.; and
Sec. 3.  30-A MRSA §5726, sub-§15  is enacted to read:
 
15.  Job creation and retention.     Establish revolving loan fund programs to assist in job creation and retention for local for-profit and nonprofit enterprises.
 
SUMMARY
This bill amends the Maine Revised Statutes, Title 30-A, section 5726 to provide that municipalities may raise or appropriate money to establish revolving loan fund programs to assist local for-profit and nonprofit enterprises in their job creation and job retention efforts.