This bill amends the laws governing the Government Shutdown Loan Guarantee Program by amending the provisions regarding eligibility for loans and removing language that provides that if the amount expended for loan guarantee payments equals or exceeds
10% of the total of all loans issued, the Finance Authority of Maine must stop approving claims and notify the Treasurer of State and each eligible financial institution of the total amount of loan guarantee payments made and that the authority has ceased honoring loan claims. It also allocates $250,000 to the program.

Statutes affected:
Bill Text LD 2102, HP 1417: 10.1100