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ME LD798
Bill
Status
2/27/2025
Primary Sponsor
Samuel Zager
Click for details
AI Summary
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Authorizes $50,000,000 in General Fund bonds to finance the design, construction, or retrofitting of a manufacturing facility to produce mass timber in Maine using sustainably harvested Maine forest products
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Funds would be administered through the Department of Economic and Community Development's Dirigo business incentives program
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Mass timber includes cross-laminated timber, glue-laminated timber, nail-laminated timber, and dowel-laminated timber used for building construction
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Bonds may not exceed a 10-year term and must be issued within 5 years of voter ratification, with a possible 5-year extension
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Requires approval by Maine voters at a statewide November election before taking effect
Legislative Description
An Act to Authorize a General Fund Bond Issue to Fund Mass Timber Manufacturing
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