5 §13056-C. Maine Economic Development Evaluation Fund
Title 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Part 18-A: ECONOMIC AND COMMUNITY DEVELOPMENT HEADING: PL 1987, C. 534, PT. A, §17 (NEW)
Chapter 383: ECONOMIC AND COMMUNITY DEVELOPMENT HEADING: PL 1987, C. 534, PT. A, §17 (NEW)
Subchapter 1: GENERAL DEPARTMENT STRUCTURE AND AUTHORITY HEADING: PL 1987, C. 534, PT. A, §17 (NEW)
Article 1: DEPARTMENT OF ECONOMIC AND COMMUNITY DEVELOPMENT: GENERAL ORGANIZATION MISSION AND RESPONSIBILITIES HEADING: PL 1987, C. 534, PT. A, §§17,19 (NEW)
§13056-C. Maine Economic Development Evaluation Fund
1. Fund established. The Maine Economic Development Evaluation Fund, referred to in this section as "the fund," is established as a nonlapsing Other Special Revenue Funds account administered by the department for the purposes of funding the comprehensive economic development evaluation required pursuant to section 13056-A.
[ 2007, c. 434, §3 (NEW) .]
2. Fund sources. The fund receives money deposited by the Treasurer of State pursuant to this section and any other gift, grant or other source of revenue deposited for funding the comprehensive economic development evaluation required pursuant to section 13056-A.
[ 2007, c. 434, §3 (NEW) .]
3. Payments to fund. Notwithstanding section 1585 or any other provision of law, the department shall assess agencies or private entities that receive General Fund appropriations or general obligation bonds for economic development an amount for contribution to the fund that is not to exceed 0.08% of General Fund appropriations received by or general obligation bonds issued to an agency or entity for economic development efforts. Private entities that receive funds from general obligation bonds for economic development efforts shall pay to the Treasurer of State in the fiscal year in which the general obligation bond was issued an assessment amount determined by the department that is not to exceed 0.08% of the proceeds from the bond issue in any fiscal year, which payment must be made from available resources other than bond proceeds. Only those programs that receive $250,000 or more in economic development appropriations in any fiscal year or those entities that receive funds from a general obligation bond issue of $250,000 or more for economic development efforts in any fiscal year, as identified and certified by the department and the Office of Fiscal and Program Review, may be assessed pursuant to this subsection. The department shall provide to each agency or private entity an annual budget for the fund and a detailed account of each institution's required assessment. Total payments made pursuant to this section may not exceed $200,000 in any fiscal year.
[ 2009, c. 337, §2 (AMD) .]
SECTION HISTORY
2007, c. 434, §3 (NEW). 2009, c. 337, §2 (AMD).