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LD683 • 2025

An Act to Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses

An Act to Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses

Enacted

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

Sponsor
Senator Craig Hickman
Last action
2025-04-11
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 Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses

An Act to Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses Sponsor: Senator Craig Hickman Reference committee: Veterans and Legal Affairs Governor action: Signed by the Governor

What This Bill Does

  • An Act to Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses Sponsor: Senator Craig Hickman Reference committee: Veterans and Legal 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.

Bill History

  1. 2025-04-11 Governor

    Signed by the Governor

  2. 2025-04-08 Senate

    PASSED TO BE ENACTED , in concurrence.

  3. 2025-04-01 House

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

  4. 2025-03-20 Committee

    Reported Out; OTP

  5. 2025-03-12 Committee

    Work Session Held

  6. 2025-03-12 Committee

    Voted; OTP

  7. 2025-02-20 Committee

    Referred to Committee on Veterans and Legal Affairs.

Official Summary Text

An Act to Clarify the Law Governing the Minimum Indirect Financial Interest Disclosure Requirement for Liquor Licenses
Sponsor:
Senator Craig Hickman
Reference committee:
Veterans and Legal Affairs
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR1389(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 299 - L.D. 683
An Act to Clarify the Law Governing the Minimum Indirect Financial
Interest Disclosure Requirement for Liquor Licenses
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 28-A MRSA §651, sub-§2, ¶A-1, as enacted by PL 2023, c. 633, §2, is
amended to read:
A-1. An applicant shall disclose any person that holds an indirect financial interest
equal to or greater than 10% in the person for which a license or certificate of approval
is sought. For the purposes of this paragraph, "indirect financial interest" means:
(1) An option, warrant or other right to acquire an equity interest in the person for
which a license or certificate of approval is sought; or
(2) A right to payment of, or a right to payment based upon, all or any portion of
revenues, profits or losses derived from the operations under a license or certificate
of approval issued under this Title of the person for which a license or certificate
of approval is sought, including, but not limited to, profit sharing, revenue sharing
or royalty payments.
APPROVED
APRIL 11, 2025
BY GOVERNOR
CHAPTER
21
PUBLIC LAW