PLEASE NOTE: Legislative Information cannot perform research, provide legal advice, or interpret Maine law. For legal assistance, please contact a qualified attorney.
Amend the bill by striking out the title and substituting the following:
‘An Act To Provide Relief to Federal Employees Affected by a Federal Shutdown’
Amend the bill in the emergency preamble by striking out all of the 3rd paragraph (page 1, lines 5 to 7 in L.D.) and inserting the following:
‘Whereas, during a partial shutdown or full shutdown of the Federal Government, these federal employees are not paid, regardless of whether they are working, which causes enormous stress, both fiscal and emotional, on those employees; and’
Amend the bill in the emergency preamble in the 4th paragraph in the first line (page 1, line 8 in L.D.) by striking out the following: "already"
Amend the bill in section 1 in §157 in the first paragraph in the last line (page 1, line 24 in L.D.) by inserting after the following: "13." the following: 'Upon the termination of the Federal Shutdown Loan Guarantee Program as required by Title 10, section 1100-FF, the State Controller shall transfer any funds remaining in the fund to the unappropriated surplus of the General Fund.'
Amend the bill in section 2 in subchapter 13 in §1100-AA in subsection 1 in the 2nd line (page 1, line 32 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-AA in subsection 7 in the first paragraph in the last line (page 2, line 16 in L.D.) by striking out the following: "not subject to:" and inserting the following: 'insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration.'
Amend the bill in section 2 in subchapter 13 in §1100-AA in subsection 7 by striking out all of paragraphs A to E (page 2, lines 17 to 24 in L.D.)
Amend the bill in section 2 in subchapter 13 in §1100-AA by striking out all of subsection 11 (page 2, lines 32 and 33 in L.D.) and inserting the following:
 
‘11.  Shutdown.    "Shutdown" means a full or partial shutdown of the Federal Government that occurs between February 15, 2019 and December 31, 2019 and that lasts longer than 14 consecutive calendar days.’
Amend the bill in section 2 in subchapter 13 in §1100-BB in subsection 2 in the first line (page 3, line 6 in L.D.) by striking out the following: " Application process " and inserting the following: ' Process '
Amend the bill in section 2 in subchapter 13 in §1100-BB in subsection 2 in the 2nd line (page 3, line 7 in L.D.) by striking out the following: "apply" and inserting the following: 'submit a request'
Amend the bill in section 2 in subchapter 13 in §1100-BB in subsection 2 in the 3rd line (page 3, line 8 in L.D.) by striking out the following: "application" and inserting the following: 'request to participate'
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 1 in paragraph B in subparagraph (2) in the first line (page 3, line 31 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 1 in paragraph B in subparagraph (4) in division (a) in the first line (page 3, line 37 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 1 in paragraph B in subparagraph (4) in division (b) in the first line (page 3, line 38 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-CC by striking out all of subsection 3 (page 4, lines 5 to 8 in L.D.) and inserting the following:
 
‘3.  Creditworthiness.    An eligible financial institution may not use an affected employee's creditworthiness as a factor for the purposes of determining eligibility for a loan under this subchapter.’
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 4 in the first line (page 4, line 9 in L.D.) by striking out the following: "The" and inserting the following: 'Notwithstanding any other law to the contrary, the'
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 5 in the 2nd to last line (page 4, line 30 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-CC in subsection 6 in the last line (page 4, line 37 in L.D.) by inserting after the following: "loans" the following: 'and that loan information may be shared with the authority'
Amend the bill in section 2 in subchapter 13 in §1100-DD in subsection 1 in the 2nd line (page 5, line 3 in L.D.) by striking out the following: "210th" and inserting the following: '300th'
Amend the bill in section 2 in subchapter 13 in §1100-DD in subsection 2 in the 4th line (page 5, line 14 in L.D.) by striking out the following: "eligible financial institution" and inserting the following: 'authority'
Amend the bill in section 2 in subchapter 13 in §1100-DD in subsection 2 in the last line (page 5, line 16 in L.D.) by inserting after the following: "program." the following: 'The authority shall distribute the loan guarantee payment to the eligible financial institution.'
Amend the bill in section 2 in subchapter 13 in §1100-FF in subsection 1 in the 2nd line (page 6, line 5 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 2 in subchapter 13 in §1100-FF in subsection 1 in the last line (page 6, line 6 in L.D.) by striking out the following: "the shutdown" and inserting the following: 'a shutdown'
Amend the bill in section 3 in the 5th line (page 6, line 17 in L.D.) by striking out the following: "February 15, 2019" and inserting the following: '14 days following the effective date of this Act'
Amend the bill in section 4 in the 2nd line (page 6, line 21 in L.D.) by inserting after the following: "Affairs" the following: ', after consultation with the Joint Standing Committee on Health Coverage, Insurance and Financial Services,'
Amend the bill by striking out all of section 5 and inserting the following:
‘Sec. 5. Appropriations and allocations. The following appropriations and allocations are made.
 
TREASURER OF STATE, OFFICE OF
 
Federal Shutdown Loan Guarantee Program Fund N296
 
Initiative: Establishes the Federal Shutdown Loan Guarantee Program Fund with a $250,000 transfer from the unappropriated surplus of the General Fund.

OTHER SPECIAL REVENUE FUNDS	2018-19	2019-20	2020-21	
All Other	$250,000	$500	$500	
				
OTHER SPECIAL REVENUE FUNDS TOTAL	$250,000	$500	$500	
 
’
 
SUMMARY
This amendment:
1. Amends the definition of "shutdown" to mean a full or partial shutdown of the Federal Government between February 15, 2019 and December 31, 2019 that lasts longer than 14 days;
2. Adds language to require that any unexpended funds be returned to the unappropriated surplus of the General Fund upon the termination of the program;
3. Amends the definition of a credit union or financial institution in good standing to mean a credit union or financial institution insured by the Federal Deposit Insurance Corporation or the National Credit Union Administration;
4. Simplifies the process for a credit union or financial institution to participate in the program;
5. Extends the time period for an eligible financial institution to make a claim for a loan guarantee from between 180 and 210 days following the end of the grace period to between 180 and 300 days following the end of the grace period;
6. Requires the Treasurer of State to make loan guarantee payments to the Finance Authority of Maine, or FAME, instead of the eligible financial institution;
7. Clarifies that an eligible financial institution may not use an affected employee's creditworthiness as a factor to determine eligibility for the program;
8. Clarifies that the terms of the loan agreement under the program apply notwithstanding any other state or federal law to the contrary;
9. Requires that an eligible financial institution disclose that loan information may be shared with FAME;
10. Clarifies that loans may not be made under the program after a shutdown ends;
11. Requires that the transfer from the unappropriated surplus of the General Fund happen no later than 14 days following the effective date of this legislation instead of no later than February 15, 2019;
12. Requires that the Joint Standing Committee on Appropriations and Financial Affairs consult with the Joint Standing Committee on Health Coverage, Insurance and Financial Services before reporting out any legislation to address funding needs for the program; and
13. Corrects an error in the allocations section of the bill.
FISCAL NOTE REQUIRED
(See attached)