Title 20-A

The Advisory Committee on Education Savings, referred to in this chapter as the "advisory committee," is created to provide advice to the authority on the operation of the program and investment of the program fund. [PL 2017, c. 474, Pt. F, §7 (AMD).] 1. Membership. The advisory …

The authority shall establish rules for the implementation of the program established by this chapter, including rules establishing fees and penalties and rules necessary to ensure treatment as a qualified tuition program for federal tax purposes. Rules adopted pursuant to this s…

This chapter must be construed liberally in order to effectuate its legislative intent.

The Legislature finds and declares that the provision of a higher education for all residents of this State and for nonresidents attending institutions of higher education within this State who desire a higher education and are properly qualified is important to the welfare and s…

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 2003, c. 455, §2 (NEW).] 1. Authority. "Authority" means the Finance Authority of Maine established in Title 10, section 961 and its successors or assigns. 2. Bon…

1. Program. The authority is authorized to carry out the program by issuing bonds for the purpose of financing eligible loans and may use any net earnings on those bonds to administer the program, to pay or further secure the bonds and to make eligible loans. 2. Authorization. 3.…

1. Confidential information. Records containing any information acquired by the authority or a member, employee or agent of the authority from borrowers whose loans are financed by the authority are confidential for purposes of Title 1, section 402, subsection 3, paragraph A. 2. …

1. Issuance; purpose; payment; authorization; interim receipts or certificates. The authority may issue bonds for the purposes of this chapter, including financing eligible loans, which may include originating eligible loans, including consolidation loans, financing loans to elig…

1. Trust agreement. Any bonds issued under this chapter may be secured by a trust agreement by and between any or all of the following: the authority, a financial institution, a credit union and a corporate trustee or trustees, which may be any trust company or bank having the po…

1. Capital reserve fund. The authority may create and establish one or more capital reserve funds and may pay into any capital reserve fund any money appropriated and made available by the State for the purposes of any such fund, any proceeds of the sale by the authority of bonds…

The authority may finance, sell, service, pledge, invest in, hold, trade, accept as collateral or otherwise deal in, acquire or transfer, all on such terms and conditions as the authority may specify, any eligible loan or portfolio of loans or loan pass-through certificate, pledg…

Bonds issued under this chapter constitute a proper public purpose and the securities, their transfer and the income from them, including any profits made on their sale, are at all times exempt from taxation within the State, whether or not those securities, their transfer or the…

Bonds issued by the authority under this chapter are securities in which all public officers and public bodies of the State and its political subdivisions; insurance companies and associations and other persons carrying on an insurance business; trust companies, banks, bankers, b…

With respect to all or any portion of any issue of any bonds or any series of bonds that the authority may issue in accordance with the limitations and restrictions of this chapter, the authority may covenant, elect and consent that the interest on the bonds be includable under t…

The State pledges to and agrees with the holders of any bonds issued under this chapter and with those parties who may enter into any contract with the authority pursuant to this chapter that the State will not limit, alter, restrict or impair the rights vested by this chapter in…

This chapter may not be construed as a restriction or limitation upon any powers that the authority might otherwise have under any laws of this State and this chapter is cumulative of any such powers. Neither the making of contracts nor the issuance of bonds pursuant to this chap…

This chapter being necessary for the welfare of the State and its inhabitants must be liberally construed so as to effect its purposes.

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1989, c. 559, §10 (NEW).] 1. Academic year and in attendance. "Academic year" and "in attendance" have the same meanings as in the definitions of these terms cont…

The Maine State Grant Program is established. Under the program, grants may be given only to residents of the State who: [PL 2001, c. 70, §5 (AMD).] 1. Graduated. Have graduated from an approved secondary school or matriculated at a post-secondary school prior to high school grad…

The authority shall establish the need of a student for a Maine State Grant for an academic year for which the student applies. In doing so, the authority shall consider the cost of attendance of the student, the student aid index and estimated student financial assistance not re…

Grants to eligible students must be determined as follows, subject to the limitations set forth in section 11613. [PL 2001, c. 70, §8 (AMD).] 1. Priority for awards of grants. Students with the lowest student aid index must be given priority over all other eligible students for t…

Prior to March 1st of each year, the authority shall publish grant amounts for the succeeding academic year.

1. Length of grant. A grant is for a period not to exceed one academic year. A student may apply for a new grant for each year during the period required for completion of an eligible program of study being pursued by that student. A grant recipient who remains eligible must be c…

1. Responsibility of authority. The authority shall administer the Maine State Grant Program, including establishing and maintaining fund accounting and control procedures as required by state law or as necessary for the State to be eligible to receive federal assistance under th…

Any unexpended funds appropriated by the Legislature to carry out the purposes of this program shall not lapse, but shall be carried forward for continued use in the program.

Effective July 1, 2004, a grant received by a student under this chapter may be applied to reduce institutional or other grant aid to that student only if that institutional or grant aid is subsequently granted to a student with demonstrated financial need.

The Scholarships for Maine Fund is created and established as a nonlapsing fund under the jurisdiction and control of the Finance Authority of Maine. All revenues credited to this fund must be distributed as scholarships based on need for residents of the State who are enrolled i…

1. Finance Authority of Maine sponsored credit card. The Finance Authority of Maine may enter into an agreement with a financial institution, as defined in Title 9‑B, section 131, subsection 17‑A or a credit union, as defined in Title 9‑B, section 131, subsection 12‑A, or other c…

The Quality Child Care Education Scholarship Fund is created and established as a nonlapsing fund under the jurisdiction and control of the Finance Authority of Maine. All revenues credited to this fund must be distributed as scholarships based on financial need for residents of …

1. Admission of Maine residents to educational institutions. It is the intent of the Legislature to assure, to the greatest extent possible, the admission of qualified Maine residents to educational institutions providing programs of instruction leading to doctoral degrees in all…

For the purposes of this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1981, c. 693, §§5, 8 (NEW).] 1. Clinical education site. "Clinical education site" includes both clinical clerkship sites and preceptorship sites. A. "Cl…

1. Agreement. State contract students commencing their professional education between September 1, 1977, and June 30, 1981, shall, as a condition precedent to the commencement of that education, enter into an agreement with the State under which the student shall agree: A. To pay…

1. Agreement. Any state contract student commencing professional education on or after July 1, 1981 and prior to January 1, 1993 shall, as a condition precedent to the commencement of the education, enter into an agreement with the State under which the student shall agree: A. To…

1. Return to practice in Maine. The chief executive officer shall develop a plan that ensures, to the extent practicable, that contract students, or a similar number of out-of-state medical school graduates, return to practice their profession within the State, particularly in un…

There is created under the jurisdiction of the authority a nonlapsing, interest-earning, revolving fund to carry out the purposes of this chapter. Any unexpended balance in the fund carries over for continued use under this chapter. The authority may receive, invest and expend, o…

The legislative committee having jurisdiction over appropriations and financial affairs shall annually review the program established under this chapter.

The authority shall establish all rules necessary to carry out the purposes of this chapter, except that the Commissioner of Health and Human Services shall develop rules for determining underserved areas for the practice of allopathic medicine, dentistry and optometry and the Co…

The authority may allocate a portion of the fund established in section 11808 to support improvements in the curricula of primary care residency programs offered in this State. In accordance with criteria established by rules adopted pursuant to section 11810, the chief executive…

1. Purpose. The purpose of this chapter is to provide for persons who desire to practice osteopathic medicine in this State. 2. Findings. The provision of financial assistance in securing this type of higher education is an important public purpose. Many qualified youth are deter…

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1989, c. 698, §26 (NEW); PL 1989, c. 698, §76 (AFF).] 1. Authority. "Authority" means the Finance Authority of Maine. 2. Chief executive officer. "Chief executive…

The State Osteopathic Loan Fund is created under the jurisdiction of the authority as a nonlapsing, interest-earning, revolving fund to carry out the purposes of this chapter. Any unexpended balance in the fund carries over for continued use under this chapter. The authority may …

An applicant shall be eligible for a loan under this chapter when the chief executive officer, after consultation with the executive committee of the Maine Osteopathic Association, finds that the applicant: [PL 1989, c. 698, §29 (AMD); PL 1989, c. 698, §76 (AFF).] 1. Residency. H…

1. Agreement. A student commencing professional education between September 1, 1971 and June 30, 1981, as a condition of receiving a loan, shall enter into an agreement with the State that the student, after the completion of an internship, residency, obligated public health serv…

1. Agreement. Any osteopathic loan student commencing professional education on or after July 1, 1981 and prior to January 1, 1993 shall, as a condition precedent to receiving the loan, enter into an agreement with the authority stating that following completion of professional e…

The authority shall establish rules necessary to carry out the purposes of this chapter, except that the Commissioner of Health and Human Services shall develop rules for determining underserved areas for the practice of osteopathic medicine.

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1991, c. 830, §4 (NEW); PL 1991, c. 832, §10 (NEW).] 1. Authority. "Authority" means the Finance Authority of Maine. 2. Chief executive officer. "Chief executive …