LD 672 LR 478(01)
An Act To Improve Access to Capital
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Herbig of Belfast
Committee: Labor, Commerce, Research and Economic Development
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
Contingent increased loan liability - Finance Authority of Maine
Fiscal Detail and Notes
This legislation allows the Finance Authority of Maine (FAME) to increase its maximum loan insurance amount through its Commercial Loan Insurance Program from $7.0 million to $10.0 million per entity.  The increased authority is contingent upon FAME's receipt of an appropriation, allocation or other funding of at least $37.0 million.