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132nd MAINE LEGISLATURE |
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LD 1643 |
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LR 2061(01) |
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An Act to
Establish the Maine Life Science Innovation Center |
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Preliminary
Fiscal Impact Statement for Original Bill |
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Sponsor: Sen. Pierce of Cumberland |
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Committee: Housing and Economic Development |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$2,000,000 |
$2,000,000 |
$0 |
$0 |
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| Appropriations/Allocations |
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General Fund |
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$2,000,000 |
$2,000,000 |
$0 |
$0 |
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Other Special Revenue Funds |
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$500 |
$500 |
$500 |
$500 |
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| Correctional
and Judicial Impact Statements |
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The additional
workload associated with the minimal number of new cases filed in the court
system does not require additional funding at this time. The collection of
additional fines will increase General Fund or other dedicated revenue by
minor amounts. |
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| Fiscal Detail
and Notes |
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This bill
includes one-time General Fund appropriations of $2.0 million in fiscal year
2025-26 and fiscal year 2026-27 only to a newly created Maine Life Science
Innovation Fund to support the initial start-up costs for the Maine Life
Science Innovation Center. The bill also includes ongoing Other Special
Revenue Funds base allocations of $500 per year beginning in fiscal year
2025-26 to authorize expenditures in the event funds are received from gifts,
grants or other public or private sources to support the center. |
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Additional costs
to the Department of Economic and Community Development, the Maine Technology
Institute, the Maine Community College System and the University of Maine
System to have a representative serve on the board of directors can be
absorbed within existing budgeted resources. |
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