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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)

Became Law

ECONOMIC DEVELOPMENTECONOMIC DEVELOPMENT - PLANNING

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Bill Overview

Analyzed Economic Effects

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

Maine Space Corporation nonprofit powers and board rules

The law confirms the Maine Space Corporation is a nonprofit with public and charitable purposes. It is a quasi‑independent state entity that can use broad corporate powers under state law. It operates under state nonprofit rules and works to grow small rocket and small‑satellite launches from Maine. Board decisions are valid when a majority of current directors are present. A majority of those present must vote yes. Vacancies do not stop votes. The law also repeals an older section and updates the governance framework.

Maine Space Corporation bondholder protections and dissolution rules

The corporation cannot be dissolved unless the Legislature ends it and bondholders are protected. All bonds, any premiums, and interest must be paid, or money must be placed in an irrevocable trust to pay them to maturity or an earlier redemption date. If the corporation dissolves, its remaining assets must go to a 501(c)(3) charity or to the State for a public purpose. These steps protect investors and keep assets for public or charitable use.

Maine Space Corporation property tax break

The law exempts the Maine Space Corporation from property taxes. The exemption covers property the corporation holds for its purposes and is in addition to any other exemptions. This lowers the corporation’s property tax costs.

Maine Space Corporation records and privacy rules

Most of the corporation’s records and meetings are public. Trade secrets and sensitive manufacturing, commercial, or financial information are confidential. Business or marketing plans are public unless a person asks for confidentiality and the corporation finds the material is proprietary. Tax returns, financial statements, and records about creditworthiness are confidential. Information that is already public stays public.

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. ACTPUB Chapter 258

    5/1/2026

  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

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