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LD788 • 2025

An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending

An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending

Housing
Enacted

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

Sponsor
Senator Teresa Pierce
Last action
2025-05-29
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 Promote an Innovation-driven Economy by Increasing Research and Development Spending

An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending Sponsor: Senator Teresa Pierce Reference committee: Housing and Economic Development Governor action: Signed by the Governor

What This Bill Does

  • An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending Sponsor: Senator Teresa Pierce Reference committee: Housing and Economic Development 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 - 132LR1165(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR1165(02) COMMITTEE AMENDMENT 1 L.D.
  • 788 2 Date: (Filing No.
  • S- ) 3HOUSING AND ECONOMIC DEVELOPMENT 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. 2025-05-29 Governor

    Signed by the Governor

  2. 2025-05-27 House

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

  3. 2025-05-27 Senate

    PASSED TO BE ENACTED , in concurrence.

  4. 2025-05-20 Committee

    Reported Out; OTP-AM

  5. 2025-03-27 Committee

    Work Session Held

  6. 2025-03-27 Committee

    Voted; OTP-AM

  7. 2025-02-27 Committee

    Referred to Committee on Housing and Economic Development.

Official Summary Text

An Act to Promote an Innovation-driven Economy by Increasing Research and Development Spending
Sponsor:
Senator Teresa Pierce
Reference committee:
Housing and Economic Development
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR1165(03)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-FIVE
_____
S.P. 348 - L.D. 788
An Act to Promote an Innovation-driven Economy by Increasing Research
and Development Spending
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §929-C, as enacted by PL 2007, c. 420, §6, is amended to read:
§929-C. Research and development budgetary recommendations
The Maine Economic Growth Council, established in section 929‑A, with input from
the Office of Innovation, established pursuant to Title 5, section 13105, and the Maine
Innovation Economy Advisory Board, under section 949, shall review the innovation
economy action plan, as described in Title 10, chapter 107‑D, and develop specific annual
budgetary recommendations to support the plan’s vision and goals. These
recommendations must include specific bonding and General Fund appropriations
investment levels. By June 1st of each year, the council shall submit its recommendations,
along with an annual accountability update that summarizes the State’s commitment to
research and development investments in the prior year, to the Governor, the Legislature
and the joint standing committee of the Legislature having jurisdiction over business,
research and economic development issues support and track progress toward the goal of
increasing the State's research and development spending as a percentage of the State's
gross domestic product to meet the national average by 2030 and maintaining that national
average each year thereafter. By December 1st of each year, the council shall submit an
annual accountability update that summarizes the State's aggregate commitment to research
and development investments and provides data on the commercialization of laboratory-
based innovation projects that occurred in the most recently available year to the Governor
and the joint standing committee of the Legislature having jurisdiction over research and
economic development matters and the joint standing committee of the Legislature having
jurisdiction over appropriations and financial affairs.
After reviewing the annual accountability update, the joint standing committee of the
Legislature having jurisdiction over research and economic development matters and the
joint standing committee of the Legislature having jurisdiction over appropriations and
financial affairs may each report out legislation to implement any recommendations
contained in the update or to address any other issues identified in the update.
APPROVED
MAY 29, 2025
BY GOVERNOR
CHAPTER
146
PUBLIC LAW