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ME LD242

Bill

Official Source

Status

Passed

6/2/2025

Primary Sponsor

Teresa Pierce

Click for details

Origin

Senate

132nd Legislature

AI Summary

  • Extends the maximum repayment period for school construction bonds from 25 years to 30 years when bond proceeds are used to fund temporary notes

  • Amends two sections of Maine law (20-A MRSA §1311 and §1490) governing school administrative units and regional school units

  • The combined period of bond issuance plus temporary note loans may not exceed the new 30-year limit

  • Signed into law by the Governor on June 9, 2025 as Public Law Chapter 197

Legislative Description

An Act to Extend the Maximum Time Period for Certain School Construction Bonds

Construction

Last Action

PASSED TO BE ENACTED, in concurrence.

6/2/2025

Committee Referrals

Education And Cultural Affairs1/16/2025

Full Bill Text

No bill text available