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ME LD560
Bill
AI Summary
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Authorizes $75,000,000 in general obligation bonds backed by the full faith and credit of Maine, with a maximum term of 10 years
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Funds would be administered by the Office of Policy Innovation and the Future as grants to county, municipal, and tribal governments, as well as regional councils
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Grants support coastal climate resiliency improvements and engineered beach upgrades
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Requires voter approval through a statewide referendum in November following passage by the Legislature
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Bonds must be issued within 5 years of ratification or become deauthorized, with the Legislature able to grant one 5-year extension
Legislative Description
An Act to Authorize a General Fund Bond Issue to Improve Coastal Climate Resiliency
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