Amend the bill in section 1 in §1026-U in subsection 1 in paragraph C in the first line (page 1, line 13 in L.D.) by striking out the following: " established" and inserting the following: ' authorized'
Amend the bill in section 1 in §1026-U in subsection 2 in the first line (page 1, line 15 in L.D.) by striking out the following: " established. The authority shall" and inserting the following: ' authorized. The authority may'
Amend the bill in section 1 in §1026-U in subsection 6 in paragraph B in the first line (page 2, line 17 in L.D.) by inserting after the following: " funding" the following: ' from bonds issued pursuant to subsection 7'
Amend the bill in section 1 in §1026-U by striking out all of subsections 7 to 9 (page 2, lines 22 to 32 in L.D.) and inserting the following:
Amend the bill in section 2 in the 4th line (page 2, line 36 in L.D.) by striking out the following: "$250,000,000" and inserting the following: '$50,000,000'
This amendment authorizes, instead of requiring, the Finance Authority of Maine to establish the Maine Capital Investment Program and reduces the amount of funding required for the bill to take effect from $250,000,000 to $50,000,000.
This amendment eliminates the provision of the bill that provides that investments into the Maine Capital Investment Fund may be eligible for the seed capital investment tax credit.
This amendment authorizes the authority to issue bonds for the purpose of funding business development projects and specifies that such bonds are not general obligation bonds of the authority or the State or any agency or political subdivision of the State.
This amendment requires a report to the authority by each recipient of financial support under the program as well as an annual report from the authority to the joint standing committee of the Legislature having jurisdiction over economic development matters regarding the business development projects that have received financial support and the administration of the program. The committee may request an independent evaluation of the program by the Office of Program Evaluation and Government Accountability.
FISCAL NOTE REQUIRED