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An Act To Transfer the Kim Wallace Adaptive Equipment Loan Program Fund to the Office of the Treasurer of State
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 10 MRSA §372, sub-§1, as amended by PL 2015, c. 412, §1, is further amended to read:
 
1. Creation of fund.   There is established the Kim Wallace Adaptive Equipment Loan Program Fund, which must be used to provide funding for loans to qualified borrowers within the State in order to acquire adaptive equipment designed to assist the borrower in becoming independent and for other purposes as allowed under section 376. The fund must be deposited with and maintained by the Finance Authority of Maine or other state agencyTreasurer of State and contain appropriations provided for that purpose, interest accrued on the fund balance, funds received by the board to be applied to the fund and funds received in repayment of loans. The Treasurer of State may make disbursements only upon written direction from the board. This fund is a nonlapsing revolving fund. All money in the fund must be continuously applied to carry out the purposes of this chapter.
Sec. 2. Appropriations and allocations. The following appropriations and allocations are made.
 
TREASURER OF STATE, OFFICE OF
 
Kim Wallace Adaptive Equipment Loan Program
 
Initiative: Provides funding to establish the Kim Wallace Adaptive Equipment Loan Program Fund in the Office of the Treasurer of State.

OTHER SPECIAL REVENUE FUNDS	2019-20	2020-21	
All Other	$500	$500	
			
OTHER SPECIAL REVENUE FUNDS TOTAL	$500	$500	

SUMMARY
This bill transfers the Kim Wallace Adaptive Equipment Loan Program Fund from the Finance Authority of Maine to the Treasurer of State and allows the Treasurer of State to make disbursements from the fund only upon written direction of the Kim Wallace Adaptive Equipment Loan Program Fund Board. This bill also provides funds to establish the fund in the Office of the Treasurer of State.