An Act To Implement the Recommendations of the Joint Standing Committee on Education and Cultural Affairs after Its Review of the Maine Health and Higher Educational Facilities Authority Pursuant to the State Government Evaluation Act

Sec. 1. 20-A MRSA c. 418,  as amended, is repealed.

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This bill is introduced by the Joint Standing Committee on Education and Cultural Affairs pursuant to the Maine Revised Statutes, Title 3, section 955, subsection 4 to implement the recommendations of the committee resulting from its review of the program evaluation report submitted by the Maine Health and Higher Educational Facilities Authority pursuant to the State Government Evaluation Act.

The bill repeals the authority of the Maine Health and Higher Educational Facilities Authority to issue revenue bonds and other obligations and loan the proceeds to one or more student loan corporations for the purpose of issuing low-cost loans by student loan corporations to qualified students to assist the students in attending institutions for higher education and lowering the cost to the students or their parents of financing the students' educations. The Maine Health and Higher Educational Facilities Authority has not used this authority since the mid-1980s, and this authority is no longer considered necessary by the Joint Standing Committee on Education and Cultural Affairs.