An Act To Authorize a General Fund Bond Issue To Stimulate Investment in Innovation by Maine Businesses To Produce Nationally and Globally Competitive Products and Services

Maine Ballot Measure - HP722

Election: June 13, 2017 (General)

Outcome: Passed


Budget, Spending and Taxes


This Act would authorize the State to issue general obligation bonds in an amount not to exceed fifty million dollars ($50,000,000), to raise funds for the purpose of economic development. The bonds would run for a period not longer than 10 years from the date of issue and would be backed by the full faith and credit of the State.

A "YES" vote approves the issuance of up to fifty million dollars ($50,000,000) in general obligation bonds to finance the activities described above.

A "NO" vote disapproves the bond issue in its entirety.

Measure Text

"Do you favor a $50,000,000 bond issue to provide $45,000,000 in funds for investment in research, development and commercialization in the State to be used for infrastructure, equipment and technology upgrades that enable organizations to gain and hold market share, to increase revenues and to expand employment or preserve jobs for Maine people, to be awarded through a competitive process to Maine-based public and private entities, leveraging other funds in a one-to-one ratio and $5,000,000 in funds to create jobs and economic growth by lending to or investing in small businesses with the potential for significant growth and strong job creation?"

Yes ( ) No ( )


Official Summary