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MaineLD 1208132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Amend the Statutory Balance Limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund Transfers

Sponsored By: Chip Curry (Democratic)

Became Law

FINANCE AUTHORITYFINANCE AUTHORITY - ADMINISTRATION

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Bill Overview

Analyzed Economic Effects

1 provisions identified: 0 benefits, 0 costs, 1 mixed.

Higher cap for Maine loan insurance reserve

The law raises the combined cap for Finance Authority of Maine reserves from $50 million to $65 million. At year-end, after required transfers, the Controller may move up to $1 million of surplus into the Loan Insurance Reserve. Any reserve balance is appropriated to pay the authority, but only if combined reserves stay at or below $65 million. This mainly supports state loan and mortgage insurance; effects on households are indirect.

Sponsors & Cosponsors

Sponsor

  • Chip Curry

    Democratic • Senate

Cosponsors

  • Amanda Collamore

    Republican • House

  • Richard A. Bennett

    Independent • Senate

  • Traci Gere

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. ACTPUB Chapter 475

    5/1/2026

  2. On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table PASSED TO BE ENACTED in concurrence.

    6/25/2025Senate

  3. On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.

    6/9/2025Senate

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

    6/9/2025House

  5. CONSENT CALENDAR - FIRST DAYUnder suspension of the rules CONSENT CALENDAR - SECOND DAY.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-244).In concurrence. ORDERED SENT FORTHWITH.

    6/4/2025House

  6. Report READ and ACCEPTED.READ ONCE.Committee Amendment "A" (S-244) READ and ADOPTED.Under suspension of the Rules, READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-244).Ordered sent down forthwith for concurrence.

    6/3/2025Senate

  7. CARRIED OVER, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.

    3/21/2025Senate

  8. The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT.In concurrence. ORDERED SENT FORTHWITH.

    3/20/2025House

  9. Committee on HOUSING AND ECONOMIC DEVELOPMENT suggested and ordered printed REFERENCE to the Committee on HOUSING AND ECONOMIC DEVELOPMENT Ordered sent down forthwith for concurrence

    3/20/2025Senate

Bill Text

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