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LD1700 • 2025

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator

Energy Technology
Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Representative Melanie Sachs
Last action
2025-06-10
Official status
Became Law without Governor's Signature
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator Sponsor: Representative Melanie Sachs Reference committee: Energy, Utilities and Technology Governor action: Became Law without Governor's Signature

What This Bill Does

  • An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator Sponsor: Representative Melanie Sachs Reference committee: Energy, Utilities and Technology Governor action: Became Law without Governor's Signature

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Adopted by House & Senate

Plain English: Page 1 - 132LR2059(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR2059(02) COMMITTEE AMENDMENT 1 L.D.
  • 1700 2 Date: (Filing No.
  • H- ) 3ENERGY, UTILITIES AND TECHNOLOGY 4 Reproduced and distributed under the direction of the Clerk of the House.
  • 5STATE OF MAINE 6HOUSE OF REPRESENTATIVES 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to H.P.

Bill History

  1. 2025-06-10 Governor

    Became Law without Governor's Signature

  2. 2025-05-28 House

    PASSED TO BE ENACTED . Sent for concurrence. ORDERED SENT FORTHWITH.

  3. 2025-05-28 Senate

    PASSED TO BE ENACTED , in concurrence.

  4. 2025-05-21 Committee

    Reported Out; OTP-AM/ONTP

  5. 2025-04-30 Committee

    Work Session Held

  6. 2025-04-30 Committee

    Voted; Divided Report

  7. 2025-04-17 Committee

    Referred to Committee on Energy, Utilities and Technology.

Official Summary Text

An Act to Create a Direct Investment Pilot Project Under the Maine Clean Energy and Sustainability Accelerator
Sponsor:
Representative Melanie Sachs
Reference committee:
Energy, Utilities and Technology
Governor action:
Became Law without Governor's Signature

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR2059(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
H.P. 1135 - L.D. 1700
An Act to Create a Direct Investment Pilot Project Under the Maine Clean
Energy and Sustainability Accelerator
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 35-A MRSA §10129, sub-§4, ¶B, as amended by PL 2021, c. 600, §5, is
further amended to read:
B. The accelerator may provide capital to qualified projects in the form of:
(1) Debt financing;
(2) Credit enhancements, including loan loss reserves and loan guarantees;
(3) Aggregation and warehousing;
(4) Equity capital;
(5) Any other financial product approved by the board; and
(6) Leases.; and
(7) Direct loans.
Sec. 2. Renewable energy generation and grid technology pilot project. The
Efficiency Maine Trust shall establish and administer a renewable energy generation and
grid technology pilot project, referred to in this section as "the pilot project," through the
Maine Clean Energy and Sustainability Accelerator, referred to in this section as "the
accelerator," as established in the Maine Revised Statutes, Title 35-A, section 10129,
subsection 2.
1. Notwithstanding any provision of Title 35-A, section 10129 to the contrary, the pilot
project must be designed to provide financing or investment from the accelerator to those
qualified projects for renewable energy generation, as described in Title 35-A, section
10129, subsection 1, paragraph I, subparagraph (1), and grid technology such as storage to
support clean energy distribution, including microgrids, as defined in Title 35-A, section
10129, subsection 1, paragraph H, and smart grid applications as described in Title 35-A,
section 3143.
LAW WITHOUT
GOVERNOR'S
SIGNATURE

JUNE 10, 2025
CHAPTER
223
PUBLIC LAW
Page 2 - 132LR2059(03)
2. Within 24 months of the effective date of this Act, and as long as sufficient funds
are available, the Efficiency Maine Trust must use no less than $1,000,000 of the funds
held by the accelerator to provide debt financing credit enhancements; aggregation and
warehousing; equity capital, including co-investments; leases; loans; or other financial
products approved by the Efficiency Maine Trust Board to creditworthy projects described
in subsection 1.
3. By January 29, 2028, the Efficiency Maine Trust shall provide a report regarding the
status of the pilot project to the joint standing committee of the Legislature having
jurisdiction over energy matters. The report must include an evaluation of the effectiveness
of the pilot project including a description of each project that received finance and
investment services. The trust may include recommendations regarding the continuation of
the pilot project in its report. The committee may report out a bill related to the report to
the Second Regular Session of the 133rd Legislature.