126th MAINE LEGISLATURE
		LD 790		LR 1161(01)
	An Act To Repeal the Bonding Authority of the Maine Governmental Facilities Authority
	Preliminary Fiscal Impact Statement for Original Bill
	Sponsor: Rep. Sirocki of Scarborough
	Committee: Appropriations and Financial Affairs
	Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Potential future biennium savings - General Fund
Fiscal Detail and Notes
	Repealing the ability of the Maine Governmental Facilities Authority to issue bonds or negotiable securities effective October 1, 2013 may result in lower debt service costs in the future to the State or court system for projects that will not be funded through the Authority. Any potential debt service savings could be offset by any additional costs incurred if the alternative to bonding turns out to be renting facilities from private parties.
	Repealing the ability to refund existing bonds at lower interest rates is not expected to have an impact in the short-term as the recent historically low rates have already allowed refinancing of existing bonds at favorable levels.