Title 10, Title 10

The Maine-Island of Ireland Trade Commission, referred to in this section as "the commission," is established by Title 5, section 12004‑K, subsection 10‑A to promote cooperation between this State and the island of Ireland. [PL 2023, c. 616, §3 (NEW).] 1. Membership. The commissi…

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1985, c. 594, §1 (NEW).] 1. Bond. "Bond" means a revenue obligation security, bond, note, debenture, certificate or other evidence of indebtedness of the State or…

The Legislature finds and declares that the availability of financing through use of tax-exempt bonds is an effective and necessary tool for economic development, ensuring an adequate supply of affordable housing, providing for loans for higher education and promoting and improvi…

1. Formula and procedure. 1-A. Procedure. For each calendar year, the Legislature may establish a procedure for allocation of the entire amount of the state ceiling by allocating an amount of the state ceiling to the specific issuers designated in this section for further allocat…

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1987, c. 817, §2 (NEW).] 1. Board. "Board" means the Kim Wallace Adaptive Equipment Loan Program Fund Board. 2. Fund. "Fund" means the Kim Wallace Adaptive Equipm…

1. Creation of fund. There is established the Kim Wallace Adaptive Equipment Loan Program Fund, which must be used to provide funding for loans to qualified borrowers within the State in order to acquire adaptive equipment designed to assist the borrower in becoming independent a…

1. Establishment; membership. There is established the Kim Wallace Adaptive Equipment Loan Program Fund Board that consists of 9 members as follows: the Director of the Bureau of Rehabilitation Services or the director's designee; the Treasurer of State or the Treasurer of State'…

The board has the following powers and duties. [PL 2015, c. 412, §2 (AMD).] 1. Receipt of money and property. The board may accept and receive gifts, grants, bequests or devises from any source, including funds from the Federal Government or any of its political subdivisions. 2. …

1. Demonstration of purpose of loan. The board may enter into loan agreements with any qualifying borrower and exercise all powers of a lender or creditor. Loan security may include the acquisition, use, management, improvement or disposition of any interest in, or type of, real …

The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans to qualifying borrowers for the following purposes: [PL 2015, c. 412, §3 (AMD).] 1. Individual independence. To assist one or more person…

The board or an entity with which the board has contracted to provide financial services pursuant to section 374, subsection 2 may award loans for the purpose of assisting persons with disabilities to purchase used vehicles necessary to obtain or retain employment or employment t…

There is established the Small Enterprise Growth Program.

As used in this chapter, unless the context otherwise indicates, the following terms have the following meanings. [PL 1995, c. 699, §3 (NEW).] 1. Board. "Board" means the Small Enterprise Growth Board. 2. Fund. "Fund" means the Small Enterprise Growth Fund. 3. Program. "Program" …

1. Creation of fund. There is established the Small Enterprise Growth Fund, which is a revolving fund used to provide funding for disbursements to qualifying small businesses in the State seeking to pursue an eligible project. The fund must be deposited with and maintained and ad…

1. Establishment; membership. There is established as a body corporate and politic and a public instrumentality of the State the Small Enterprise Growth Board, which consists of 11 members appointed by the Governor as follows: A. An experienced commercial lender; [PL 1995, c. 699…

The board has the following powers and duties. [PL 1995, c. 699, §3 (NEW).] 1. Receipt of money and property. The board may accept and receive gifts, grants, investments, bequests or devises from any source, including funds from the Federal Government or any subdivision of the Fe…

A qualifying venture fund or a qualifying small business may be eligible to receive financial assistance under the program. In order to be eligible for financial assistance under the program, a qualifying venture fund must meet the requirements of section 383, subsection 1‑B. In …

In order to effectively review and process applications under the program, the board may delegate the authority to deny applications for disbursements from the fund to one or more subcommittees of the members. Such delegation may provide that the action of the subcommittee consti…

Disbursements may be made from program funds under the following terms and conditions. [PL 1995, c. 699, §3 (NEW).] 1. Disbursements. Initial disbursements may not exceed $500,000 to a qualifying venture fund or qualifying small business, including an affiliated entity. An initia…

The University of Maine System, the Small Business Development Center Program, the Maine International Trade Center and the Maine Technology Institute shall provide such support and assistance as the board may request, within the expertise of each.

Notwithstanding Title 5, section 18, subsection 1, paragraph B, each member of the board, and each employee, contractor, agent or other representative of the board is deemed an "executive employee" solely for purposes of Title 5, section 18, and for no other purpose. Title 17, se…

1. Disclosure required. Notwithstanding subsections 2 and 3, and except as provided in subsection 2, paragraph F, the board shall make available the following records, either to any person upon a request that reasonably describes the records to which access is sought or, if no re…

The board shall administer and exercise the authority granted to it by this chapter. The carrying out of its powers and duties is considered the performance of an essential governmental function.

The State of Maine has long had serious conditions of unemployment, underemployment, low per capita income and resource underutilization that cause substantial hardships to many individuals and families, impede the economic and physical development of various regions of the State…

The Maine Development Foundation is hereby established to foster, support and assist economic growth and revitalization in Maine. The foundation shall carry out its purposes in complement to and in coordination with the economic development activities of the private sector, commu…

The Maine Development Foundation shall foster, assist and participate in efforts for economic growth and revitalization, in coordination with existing state, regional and local agencies, such efforts to include, but not be limited to, providing for or stimulating the following pr…

Corporators, who shall elect members of the board of directors as provided in section 919, must consist of individuals and organizations classified as private sector corporators, public sector corporators and ex officio corporators. [RR 2013, c. 2, §12 (COR).] 1. Private sector c…

The Board of Directors of the Maine Development Foundation, referred to in this chapter as "the board of directors," consists of a minimum of 15 directors elected or appointed to serve in that capacity in accordance with this section. The board of directors shall annually determi…

The Maine Development Foundation is empowered to: [PL 1977, c. 548, §1 (NEW).] 1. Suit. Sue or be sued in its own name; 2. Application for and receipt of funds. Apply for and receive funds from any private source or governmental entity, whether by way of grant, donation or loan o…

The foundation, notwithstanding the foregoing, shall have no power or authority to enter into contracts, obligations or commitments of any kind on behalf of the State or any of its agencies, nor shall it have the power of eminent domain or any other power not provided to business…

All officers, directors, employees and other agents of the foundation entrusted with the custody of the securities of or authorized to disburse the funds of the foundation shall be bonded, either by a blanket bond or by individual bonds, with a surety bond or bonds with a minimum…

No officer, director or employee of the foundation or their spouses or dependent children shall receive any direct personal benefit from the activities of the foundation in assisting any private entity. This provision shall not prohibit corporations or other entities with which a…

The State of Maine, through the Governor, may accept donations, bequests, devises, grants or other interests of any nature on behalf of the foundation and transfer such funds, property or other interests to the foundation.

The foundation shall provide an annual report and an independent audit of its activities to the Governor, the Legislature, its corporators and members. The foundation shall be subject to such further audit and review as deemed necessary by the Governor or the Legislative Council …

The Maine Development Foundation shall operate as a not-for-profit organization consistent with its composition and broad public purposes. The following conditions shall apply to the operation or dissolution of the foundation. [PL 1977, c. 548, §1 (NEW).] 1. Net earnings of the f…

This chapter shall be construed liberally to effect the interest and purposes of the foundation for an improved economic development effort in the State and shall be broadly interpreted to effect such intent and purposes and not as a limitation of powers.

In order to provide for the initial organization of the foundation, the Governor shall appoint an organizing committee of 14 persons, 7 of whom must be eligible to be private sector corporators, 5 of whom must be eligible to be public sector corporators and 2 of whom must be stat…

1. The Maine Economic Growth Council; establishment. The Maine Economic Growth Council, referred to in this section and section 929‑B as "the council," is established to develop, maintain and evaluate a long-term economic plan for the State. 2. Membership. The council consists of…

1. Develop a long-term plan for the State's economy. The council shall: A. Develop and recommend a long-range plan, goals, benchmarks and alternative strategies for a sustainable state economy; [PL 1993, c. 410, Pt. MMM, §1 (NEW).] B. Monitor progress in accomplishing the plan's …

The Maine Economic Growth Council, established in section 929‑A, with input from the Office of Innovation, established pursuant to Title 5, section 13105, and the Maine Innovation Economy Advisory Board, under section 949, shall support and track progress toward the goal of incre…

The Maine International Trade Center, referred to in this chapter as the "center," is established to enhance the competitive advantage of state businesses desiring to compete in the international market. The center provides a source of leadership, coordination and a shared vision…

The center shall provide a base level of services without regard to membership in the center and enhanced services as the center's board of directors may direct, to private entities, individuals, the State and to quasi-public and public entities. The center shall encourage and as…

Members of the center are individuals and organizations that pay dues to the center or are state agencies as specified in subsection 1. Memberships may be set at different levels. Members shall elect 7 members to the board of directors of the center pursuant to section 945‑C. [PL…

The Board of Directors of the Maine International Trade Center, referred to in this chapter as the "board of directors," consists of 11 directors elected from the membership, 5 directors appointed by the Governor and the president of the center, serving in an ex officio capacity.…

The center may: [PL 1995, c. 648, §5 (NEW).] 1. Suit. Sue or be sued in its own name; 2. Application for and receipt of funds. Apply for and receive funds from any private source or governmental entity, whether by grant, donation, loan or any other manner; 3. Economic development…

The center shall adopt bylaws consistent with this chapter for the governance of its affairs and has the general powers accorded corporations under Title 13-C, section 302. The center shall take all actions necessary or convenient to carry out the lawful purposes of the center un…