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An Act Regarding Research and Development in Maine
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §15305, as enacted by PL 1999, c. 401, Pt. AAA, §3, is amended to read:
§ 15305.Limitation of powers
The institute may not enter into contracts, obligations or commitments of any kind on behalf of the State or any of its agencies, nor does it have the power of eminent domain or any other power not provided to business corporations generally. Bonds, notes and other evidences of indebtedness of the institute may not in any way be a debt or liability of the State or constitute a pledge of the faith and credit of the State. The institute may not expend more than 7%10% of funds appropriated per biennium by the State for management and related operating costs of the institute.
Sec. 2. 10 MRSA §948, sub-§1, ¶H, as enacted by PL 2011, c. 698, §3, is amended to read:
 
H. Apportioning a minimum percentage of the annual disbursements from the fund among the University of Maine at Augusta, the University of Maine at Farmington, the University of Maine at Fort Kent, the University of Maine at Machias and, the University of Maine at Presque Isle and the Maine Maritime Academy to support research and development as follows: beginning July 1, 2013 a minimum of 2.5% and beginning July 1, 2015 a minimum of 3%.
 
Effective 90 days following adjournment of the 126th Legislature, First Regular Session, unless otherwise indicated.