LD 1056 LR 1067(02)
An Act To Update and Amend the Finance Authority of Maine Act
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Innovation, Development, Economic Advancement and Business
Fiscal Note Required: Yes
Fiscal Note
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 $7.5 million per entity.  FAME has indicated that there are sufficient funds in its loan insurance reserve fund to support the increase.