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ME LD788
Bill
AI Summary
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Establishes a goal for Maine to increase research and development spending as a percentage of gross domestic product to match the national average by 2030 and maintain that level thereafter
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Requires the Maine Economic Growth Council to submit an annual accountability update by December 1st summarizing aggregate R&D investments and data on commercialization of laboratory-based innovation projects
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Directs the accountability update to be submitted to the Governor and legislative committees overseeing research/economic development and appropriations/financial affairs
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Authorizes the relevant legislative committees to report out legislation implementing recommendations or addressing issues identified in the annual update
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Approved by the Governor on May 29, 2025 as Public Law Chapter 146
Legislative Description
An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending
Economic Development
Last Action
PASSED TO BE ENACTED, in concurrence.
5/27/2025