An Act To Enable Municipalities To Establish Business Development Loan Programs Using Municipally Raised or Appropriated Money
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §5726, sub-§13, as enacted by PL 2001, c. 78, §2, is amended to read:
13. Elderly housing. Provide municipally owned rental housing for the elderly; and
Sec. 2. 30-A MRSA §5726, sub-§14, as enacted by PL 2001, c. 78, §2, is amended to read:
14. Affordable housing. Facilitate affordable housing . ; and
Sec. 3. 30-A MRSA §5726, sub-§15 is enacted to read:
15. Job creation and retention. Establish revolving loan fund programs to assist in job creation and retention for local for-profit and nonprofit enterprises if approved by a municipal referendum election pursuant to sections 2528, 2529 and 2532, even if the municipality or plantation has not accepted the provisions of section 2528.
Effective 90 days following adjournment of the 126th Legislature, First Regular Session, unless otherwise indicated.