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ME LD1014
Bill
AI Summary
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Authorizes $100,000,000 in general obligation bonds to improve infrastructure at all University of Maine System campuses, with bonds maturing within 10 years of issuance
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Bond proceeds must be matched by private and other funds and may fund renovation, replacement, or removal of classrooms, residence halls, research laboratories, and other essential infrastructure
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Projects must align with university capital plans and state strategic plans, aiming to enhance education, research, economic development, student recruitment, and reduce operational costs and energy usage
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Requires voter approval through a statewide referendum in November following legislative passage; becomes effective 30 days after the Governor proclaims majority approval
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Bonds not issued within 5 years of ratification are deauthorized, though the Legislature may grant one extension of up to 5 additional years
Legislative Description
An Act to Authorize a General Fund Bond Issue to Develop Maine Talent and Innovation by Improving the Infrastructure of the University of Maine System
Bond Issues
Last Action
CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
6/25/2025