APPROVED CHAPTER
APRIL 9, 2024 608
BY GOVERNOR PUBLIC LAW
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FOUR
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H.P. 1441 - L.D. 2248
An Act to Reduce the Reporting Requirements for Special Utility Districts
and to Repeal the Maine Public Utility Financing Bank Act
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 5 MRSA §12004-F, sub-§5, as enacted by PL 1987, c. 786, §5, is repealed.
Sec. 2. 10 MRSA §363, sub-§7, as amended by PL 1999, c. 728, §5, is further
amended to read:
7. Allocation to the Maine Municipal Bond Bank. That portion of the state ceiling
allocated to the category of bonds that are general obligations of issuers within the State,
other than the State; that are included in bond issues of the Maine Municipal Bond Bank;
that are included in bond issues of the Maine Public Utility Financing Bank; or that are
qualified redevelopment bonds as defined in the United States Code, Title 26, must be
allocated to the Maine Municipal Bond Bank, which may further allocate that portion of
the state ceiling to bonds requiring an allocation in order to qualify as tax-exempt bonds.
Any further allocation or reallocation of any portion of the state ceiling from the Maine
Municipal Bond Bank to another specific issuer designated in this section must be done in
accordance with the requirements in subsection 1‑A.
Sec. 3. 30-A MRSA §5704, as enacted by PL 1987, c. 737, Pt. A, §2 and Pt. C,
§106 and amended by PL 1989, c. 6; c. 9, §2; and c. 104, Pt. C, §§8 and 10, is further
amended to read:
§5704. Reporting by special districts
Each Upon request from the Maine Municipal Bond Bank, a special district in the State,
whether or not its boundaries are coterminous with the boundaries of a municipality,
including districts established for the purposes of providing water, sewer, electric,
educational, health, transportation, solid waste management, parking or recreation services,
or any other public purpose, shall file an annual report of its total outstanding debt.
1. Content. These reports shall must include debts by:
A. Amount;
B. Purpose;
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 C. Creditors;
D. Date incurred;
E. Interest rate;
F. Amortization period;
G. Amount of annual principal payments and annual interest payments; and
H. Assessments and contributions received from municipalities in the district to
service the debts.
2. Filing; public records. The reports shall must be filed within 45 days of the end
date of each the fiscal year in which the Maine Municipal Bond Bank made the request
under subsection 1. The reports shall must be filed with the Maine Municipal Bond Bank
upon forms provided by it. Information reported under this section is a public record.
Sec. 4. 30-A MRSA §6006-B, sub-§1, ¶B, as enacted by PL 1991, c. 605, §14, is
amended by repealing subparagraph (6).
Sec. 5. 35-A MRSA c. 29, as amended, is repealed.
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Statutes affected:
Bill Text ACTPUB , Chapter 608: 5.12004, 10.363, 30-A.6006