LD 1685 LR 1169(01)
An Act To Facilitate Entry of Immigrants into the Workforce
Preliminary Fiscal Impact Statement for Original Bill
Sponsor: Rep. Cloutier of Lewiston
Committee: Innovation, Development, Economic Advancement and Business
Fiscal Note Required: Yes
Preliminary Fiscal Impact Statement
FY 2019-20 FY 2020-21 Projections  FY 2021-22 Projections  FY 2022-23
Net Cost (Savings)
General Fund $75,000 $75,000 $75,000 $75,000
General Fund $75,000 $75,000 $75,000 $75,000
Fiscal Detail and Notes
The bill establishes the Foreign Credentialing and Skills Recognition Revolving Loan Program to be administered by the Finance Authority of Maine (FAME) to provide interest-free loans to eligible immigrants who need assistance while awaiting federal employment authorization.  The bill includes ongoing General Fund appropriations of $75,000 per year beginning in fiscal year 2019-20 to a newly created Foreign Credentialing and Skills Recognition Revolving Loan Program Fund within FAME to fund the loan program.  The bill also provides that FAME may charge the fund up to 5% for it's cost to administer the program.  FAME anticipates that this funding will be sufficient to cover its administrative costs.