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MaineLD 1182132nd Maine Legislature (2025-2026)HouseWALLET

An Act to Grant the Rockland Port District an Increase in Its Borrowing Capacity and Include Sustainable Aquaculture and Marine Industries in Its Charter

Sponsored By: Valli Geiger (Democratic)

Signed by Governor

MUNICIPALITIESMUNICIPALITIES - BONDING AUTHORITY

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Bill Overview

Analyzed Economic Effects

2 provisions identified: 0 benefits, 0 costs, 2 mixed.

Port backs aquaculture and marine businesses

The Rockland Port District now supports sustainable aquaculture and marine industries, plus passenger and freight by water. The district can buy, lease, or take by eminent domain land, wharves, docks, and other needed facilities. It cannot use eminent domain on city property or public-service facilities unless the Legislature later authorizes it. Property the district owns is exempt from taxes. The City of Rockland may sell or give such facilities to the district and may transfer city funds it raises for these purposes.

Port borrowing cap now $6 million

The Rockland Port District can have up to $6,000,000 in debt outstanding at one time. It may issue bonds and notes, signed by the treasurer and countersigned by the president. Interest can be paid twice a year, and bonds may be callable with or without a premium. If bonds mature in installments, at least 7.5% of the total issue must be retired each year after the first two years. If not serial, the district must set aside a sinking fund of at least 7.5% each year after year two.

Sponsors & Cosponsors

Sponsor

  • Valli Geiger

    Democratic • House

Cosponsors

  • Pinny H. Beebe-Center

    Democratic • Senate

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Signed by Governor, ACTPS Chapter 4

    4/25/2025

  2. PASSED TO BE ENACTED, in concurrence.

    4/23/2025Senate

  3. PASSED TO BE ENACTED. Sent for concurrence. ORDERED SENT FORTHWITH.

    4/22/2025House

  4. Report READ and ACCEPTED, in concurrence.READ ONCEUnder suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED, in concurrence.Ordered sent down forthwith.

    4/17/2025Senate

  5. CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED.Sent for concurrence. ORDERED SENT FORTHWITH.

    4/17/2025House

  6. Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

    3/21/2025House

  7. The Bill was REFERRED to the Committee on TRANSPORTATION in concurrence

    3/20/2025Senate

  8. Committee on Transportation suggested and ordered printed. The Bill was REFERRED to the Committee on TRANSPORTATION.Sent for concurrence. ORDERED SENT FORTHWITH.

    3/20/2025House

Bill Text

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