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LD242 • 2025

An Act to Extend the Maximum Time Period for Certain School Construction Bonds

An Act to Extend the Maximum Time Period for Certain School Construction Bonds

Education
Enacted

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

Sponsor
Senator Teresa Pierce
Last action
2025-06-09
Official status
Signed by the Governor
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 Extend the Maximum Time Period for Certain School Construction Bonds

An Act to Extend the Maximum Time Period for Certain School Construction Bonds Sponsor: Senator Teresa Pierce Reference committee: Education and Cultural Affairs Governor action: Signed by the Governor

What This Bill Does

  • An Act to Extend the Maximum Time Period for Certain School Construction Bonds Sponsor: Senator Teresa Pierce Reference committee: Education and Cultural Affairs Governor action: Signed by the Governor

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 - 132LR0480(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR0480(02) COMMITTEE AMENDMENT 1 L.D.
  • 242 2 Date: (Filing No.
  • S- ) 3EDUCATION AND CULTURAL AFFAIRS 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8FIRST SPECIAL SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.

Bill History

  1. 2025-06-09 Governor

    Signed by the Governor

  2. 2025-06-02 House

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

  3. 2025-06-02 Senate

    PASSED TO BE ENACTED , in concurrence.

  4. 2025-05-23 Committee

    Reported Out; OTP-AM/ONTP

  5. 2025-04-17 Committee

    Work Session Held

  6. 2025-04-17 Committee

    Voted; Divided Report

  7. 2025-01-16 Committee

    Referred to Committee on Education and Cultural Affairs.

Official Summary Text

An Act to Extend the Maximum Time Period for Certain School Construction Bonds
Sponsor:
Senator Teresa Pierce
Reference committee:
Education and Cultural Affairs
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR0480(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 108 - L.D. 242
An Act to Extend the Maximum Time Period for Certain School
Construction Bonds
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 20-A MRSA §1311, sub-§3, ¶B, as enacted by PL 1981, c. 693, §§5 and
8, is amended to read:
B. If the proceeds of an issue of bonds are used in whole or in part to fund temporary
notes, the period during which the issue of bonds shall be is outstanding plus the period
of the loan represented by the temporary notes or renewals shall may not exceed 25 30
years.
Sec. 2. 20-A MRSA §1490, sub-§3, ¶B, as enacted by PL 2007, c. 240, Pt. XXXX,
§13, is amended to read:
B. If the proceeds of an issue of bonds are used in whole or in part to fund temporary
notes, the period during which the issue of bonds is outstanding plus the period of the
loan represented by the temporary notes or renewal notes may not exceed 25 30 years.
APPROVED
JUNE 9, 2025
BY GOVERNOR
CHAPTER
197
PUBLIC LAW