Sec. O-1. 26 MRSA §62, as amended by PL 2001, c. 398, Pt. B, §§1 and 2, is further amended to read:
§62. Occupational Safety Loan Fund
1. Establishment of fund. There is established in the State Treasury a special fund known as the Occupational Safety Loan Fund, for the purposes of making loans, interest rate subsidies and grants in accordance with section 63, and of providing funds for the administration of that section. The loan fund must be administered by the commissioner. The department has authority over the loan fund and may do all things necessary or convenient in the administration of the loan fund and shall formulate and adopt rules pursuant to Title 5, chapter 375 governing the administration, maintenance, loan disbursements, loan repayments, making of grants and interest rate subsidies and collections of the loan fund, and perform all other functions that the laws of this State specifically authorize or that are necessary or appropriate. All money and securities in the loan fund must be held in trust by the Treasurer of State for the purposes of the loan and interest rate subsidy program established and grants authorized under section 63 and may not be money or property for the general use of the State, except that during the fiscal year ending June 30, 1991, the State may transfer up to $400,000 to the undedicated General Fund revenues. The Treasurer of State shall invest the money of the fund in accordance with law. The fund does not lapse.
2. Loans, interest rate subsidies and grants from fund. The loan fund may make loans and grants and provide interest rate subsidies in accordance with section 63.
3. Source of fund. The loan fund shall be is established and maintained by funds received from the following:
A. Repayments of loans made by the loan fund and accrued interest on those loans;
B. Interest, income and dividends from investments made by the Treasurer of State under subsection 1; and
C. Payments pursuant to subparagraph (1).
(1) The commissioner shall assess a levy based on the total actual workers' compensation premiums paid in 1984 by employers under former Title 39, the Workers' Compensation Act or under Title 39-A, Part 1, the Maine Workers' Compensation Act of 1992. As soon as practicable after July 1, 1985, the commissioner shall assess upon and collect from each insurance carrier licensed to do workers' compensation business in the State an amount equal to 1/2 of 1% of the total workers' compensation insurance premiums paid to that insurance carrier during 1984 by employers in the State. The levy assessment constitutes an element of loss for the purpose of establishing rates for workers' compensation insurance.
(a) The Commissioner of Labor shall send notice of the assessments by certified mail to each carrier and self-insured employer. Payment of assessments must be received in the principal office of the Department of Labor before a date specified in the notice, but not more than 90 days after the date of the mailing.
Sec. O-2. 26 MRSA §63, first ¶, as amended by PL 2001, c. 398, Pt. B, §3, is further amended to read:
The department may administer a statewide program to make low interest low-interest loans, interest rate subsidies for loans and to make grants to improve safety and promote healthful working conditions in factories, workshops and workplaces in this State. This program is known as the Occupational Safety Loan Program.
Sec. O-3. 26 MRSA §63, sub-§1, as amended by PL 1991, c. 93, §3, is further amended to read:
1. Criteria for loans and loans receiving interest rate subsidies. The department shall promulgate adopt rules to implement the Occupational Safety Loan Program, which shall must include, but may not be limited to, the following loan criteria:
A. The purpose of the loan must be to improve, install or erect equipment which that reduces hazards to and promotes the health and safety of workers;
C. No loan may be made in an amount in excess of $50,000 to any single applicant, or at an interest rate in excess of 3%. A loan made by the department may not have an interest rate in excess of 3%. A loan receiving an interest rate subsidy may not have an effective rate in excess of 3%. The maximum term of an individual loan shall be is 10 years. The Commissioner of Labor may waive the limitation on the amount, the duration, or both, of a loan to address severe circumstances, as funds are available;
D. A majority vote of the Commission on Safety and Health in the Maine Workplace is necessary to recommend approval of a loan or an interest rate subsidy that is then transmitted to the department for final disposition in accordance with the policies adopted by the department;
E. Loan and interest rate subsidy applications must be reviewed by both the Commission on Safety and Health in the Maine Workplace and the department for feasibility, such as, for the general reasonableness and safety need for the proposal, whether the applicant has sufficient capital, whether an adequate safety analysis or other counseling requirement has been completed, whether the applicant is creditworthy within the scope of this program and whether the collateral offered to secure the loan is adequate;
F. Loans are not insured or guaranteed by the State, but the department shall require collateral in the form of security for the loan, if available, and may, in appropriate cases, take a mortgage on real estate;
G. Loan and interest rate subsidy applications must be on forms and accompanied by additional information as required by the department. Loan and interest rate subsidy applicants may be required to submit whatever personal or business related business-related financial information as may be necessary to determine eligibility for the Occupational Safety Loan Program; and
H. Loans and interest rate subsidies may not be approved without a prior safety inspection by the division of industrial safety and a recommendation by the division for the installation of the safety device.
Sec. O-4. Transfer of funds; Occupational Safety Loan Program account. Notwithstanding any other provision of law, $401,209 must be transferred from the Occupational Safety Loan Program account in the Finance Authority of Maine to the General Fund as undedicated revenue no later than June 30, 2004.
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