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MaineLD 1863132nd Maine Legislature (2025-2026)SenateWALLET

An Act to Amend the Laws Governing the Maine Space Corporation

Sponsored By: Matthea E. L. Daughtry (Democratic)

Signed by Governor

ECONOMIC DEVELOPMENTECONOMIC DEVELOPMENT - PLANNING

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Bill Overview

Analyzed Economic Effects

3 provisions identified: 2 benefits, 0 costs, 1 mixed.

Bondholder protections and dissolution rules

The Legislature must terminate the corporation before it can dissolve. Before dissolution, all bonds, any premium, and interest must be paid, or enough money must be set aside in a trust for bondholders until maturity or redemption. After dissolution, remaining assets must go to 501(c)(3) purposes or to the State for a public purpose. The law also repeals an older section and replaces it with these updated rules.

State-backed nonprofit powers for Maine Space Corporation

The law makes the Maine Space Corporation a nonprofit with public and charitable purposes under 501(c)(3). It is a quasi‑independent state entity and acts as a state instrumentality doing an essential government function. It can use all general nonprofit powers under Maine law. A majority of directors in office is a quorum, and a majority of directors present can act even with vacancies. The corporation works to help make Maine a hub for small polar‑orbit launches.

Privacy rules for Maine Space records

Most records and meetings of the corporation are public. Trade secrets and proprietary business, manufacturing, commercial, or financial information stay private. Business or marketing plans are public unless the owner asks for confidentiality and the corporation agrees they include proprietary information. Financial statements, tax return data, and creditworthiness assessments are confidential. Information that is already public can still be shared.

Sponsors & Cosponsors

Sponsor

  • Matthea E. L. Daughtry

    Democratic • Senate

Cosponsors

  • Craig V. Hickman

    Democratic • Senate

  • Daniel Ankeles

    Democratic • House

  • Chip Curry

    Democratic • Senate

  • Trey L. Stewart

    Republican • Senate

  • Poppy Arford

    Democratic • House

  • Ryan Fecteau

    Democratic • House

Roll Call Votes

No roll call votes available for this bill.

Actions Timeline

  1. Signed by Governor, ACTPUB Chapter 258

    6/11/2025

  2. PASSED TO BE ENACTED, in concurrence.

    6/3/2025Senate

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

    6/3/2025House

  4. Report was READ and ACCEPTED.The Bill was READ ONCE.Senate Amendment "A" (S-230) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Senate Amendment "A" (S-230).In concurrence. ORDERED SENT FORTHWITH.

    6/3/2025House

  5. Report READ On motion by Senator CURRY of Waldo Tabled until Later in Today's Session, pending ACCEPTANCE of the Ought to Pass Report. Unfinished Business Taken from the table by the President Report ACCEPTED READ ONCE Under suspension of the Rules, READ A SECOND TIME. On motion by Senator CURRY of Waldo Senate Amendment "A" (S-230) READ and ADOPTED. Subsequently, PASSED TO BE ENGROSSED as Amended by Senate Amendment "A" (S-230) Sent down for concurrence

    6/2/2025Senate

  6. Received by the Secretary of the Senate on May 1, 2025 and REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT pursuant to Joint Rule 308.2

    5/6/2025Senate

Bill Text

  • Amendment S-A (S-230), adopted by House & Senate

    PDF

  • Enacted

    PDF

  • Introduced

    PDF

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