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AGENCY UMBRELLA UNIT NUMBER: 94-457
AGENCY NAME: Finance Authority of Maine

CONTACT PERSON: Elizabeth L. Bordowitz, General Counsel, Finance Authority of Maine, 5 Community Drive, PO Box 949, Augusta, Maine 04332-0949. Tel: (207) 623-3263.

EMERGENCY RULES ADOPTED SINCE LAST REGULATORY AGENDA: None

EXPECTED FISCAL YEAR 2003-2004 RULE-MAKING ACTIVITY:

CHAPTER 1: Bylaws and Administration of the Finance Authority of Maine
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 5 M.R.S.A. § 9001.
PURPOSE: To provide guidelines for the administration of the Finance Authority of Maine, including conflicts of interest; to establish procedures to obtain advisory rulings and for the conduct of contested public hearings.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: September 2002;
Adoption Date: November 2002
AFFECTED PARTIES: All businesses and individuals who require an advisory ruling from the Authority or who are involved in contested hearings before the Authority and the Board and staff members who need guidance on the basic administration and Code of Ethics of the Authority.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 101: Mortgage Insurance Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14).
PURPOSE: To provide for the efficient administration of the Program and to make changes necessary to better assist eligible borrowers. To incorporate changes enacted by PL 2001, Ch. 417. To combine all FAME loan insurance programs into one rule.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: November 2002;
Public Hearing: December 2002; Adoption Date: January 2003
AFFECTED PARTIES: Maine businesses that will have enhanced ability to access credit.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 103: Small Business and Veterans' Small Business Mortgage Insurance Programs.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14).
PURPOSE: To provide for the efficient administration of the programs; to implement legislative changes; to better assist eligible borrowers; and to combine all loan insurance programs into one rule.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: November 2002; Public Hearing: December 2002; Adoption Date: January 2003
AFFECTED PARTIES: Maine businesses with up to 50 employees and sales of up to $5,000,00.00.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 104: Secondary Market Taxable Bond Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1021 et seq.; 10 M.R.S.A. §1041 et seq.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing the taxable bond market.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: February 2003;
Public Hearing: March 2003; Adoption Date: April 2004.
AFFECTED PARTIES: Maine businesses.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 105: Secondary Market Tax-Exempt Bond Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. §1021 et seq.; 10 M.R.S.A. § 1041 et seq.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing the tax exempt bond market and to comply with amendments to the Internal Revenue Code.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: February 2003; Public Hearing: March 2003; Adoption Date: April 2003
AFFECTED PARTIES: Maine manufacturers eligible for tax exempt financing as determined by the United States Internal Revenue Code.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 106: Agricultural Operating Loan Insurance Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14).
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: April 2003; Public Hearing: May 2003; Adoption Date: June 2003.
AFFECTED PARTIES: Maine agricultural enterprises.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 201: Municipal Securities Approval Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1061 et seq.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing financing opportunities. To bring the Program in compliance with any changes in federal or state law or regulation.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: October 2002; Public Hearing: November 2002; Adoption Date: December 2002.
AFFECTED PARTIES: Maine manufacturers seeking to expand or make improvements. CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 202: Revenue Obligation Securities Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1044; 10 M.R.S.A.
§ 1054.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing bond financing, including financing for paper industry job retention projects and to bring the program in compliance with the changes in federal or state law or regulation. To provide additional guidance on eligibility for a Major Business Expansion Loan or to delete that section and promulgate a separate rule for the administration of the Major Business Expansion Program
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: October 2002; Public Hearing: November 2002; Adoption Date: December 2002.
AFFECTED PARTIES: Maine Businesses seeking tax-exempt financing.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 203: Allocation of State Ceiling on Private Activity Bonds
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 980-A.
PURPOSE: To provide for the efficient administration of the Authority's allocation of the State Ceiling on its allocation of the tax-exempt bonds.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: March 2003; Public Hearing: April 2003; Adoption Date: May 2003.
AFFECTED PARTIES: Eligible entities seeking tax exempt financing.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 204: Secondary Market Program.
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14).
PURPOSE: To set out standards and procedures for the implementation and efficient administration of the Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: January 2003;
Public Hearing: February 2003; Adoption Date: March 2003.
AFFECTED PARTIES: Maine businesses that will be able to access additional funds made available as loans are sold on the secondary market. Banks that will be able to obtain more liquidity by selling guaranteed loans on the Secondary Market.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 301: Maine Job-Start Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1100-N (2) and (3)
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist regional economic development agencies participating in the program and eligible borrowers and for implementing changes in the legislative mandate.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2003; Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: Low-income individuals starting or expanding a small business; regional community action programs which administer the revolving funds.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 305: Underground Oil Storage Facility or Tank Replacement Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1023-D(3); 10 M.R.S.A.
§ 1023-F(3).
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers and to implement legislative changes.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: April 2003; Public Hearing: May 2003; Adoption Date: June 2003.
AFFECTED PARTIES: Maine businesses which are required to remove Underground Oil Storage Tanks or Facilities within the next two years or are undertaking an aboveground oil storage tank project or which are required to install equipment related to air quality improvement.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 307: Maine Seed Capital Tax Credit Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1100-T.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to reflect legislative changes enacted in PL. 2001 Ch. 446, and to better assist eligible applicants.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2002; Public Hearing: July 2002; Adoption Date: August 2002.
AFFECTED PARTIES: Maine businesses and Venture Capital Funds receiving investments and investors receiving tax benefits as a result of their investments in Maine businesses.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 308: Overboard Discharge Replacement Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1023-E(3); 10 M.R.S.A.
§ 1026-G(3).
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2003; Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: Maine businesses receiving assistance with the replacement of an overboard discharge system.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 309: Waste Reduction and Recycling Loan Fund Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1023-F.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2003; Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: Maine businesses receiving financial assistance for use in implementing a waste reduction or recycling project.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 311: Economic Recovery Loan Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1026-J.
PURPOSE: To amend the rule as necessary to implement legislative changes and provide for the efficient administration of the program to better assist eligible borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: January 2003; Public Hearing: February 2003; Adoption Date: March 2003.
AFFECTED PARTIES: Maine manufacturing, industrial, recreational or natural resource businesses.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 312: Intermediary Relending Loan Program.
STATUTORY AUTHORITY: State: 10 M.R.S.A. § 969-A (14); Federal: 7 U.S.C. 2007(a).
PURPOSE: To amend the rule to incorporate changes necessitated by Federal legislative, regulatory or policy directives or to more efficiently administer the programs and assist borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2003; Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: Potential new businesses or businesses requiring funds for expansion; businesses requiring funds to maintain or create jobs. Businesses providing employment to low-income individuals. All individuals who secure or retain employment as a result of funds loaned.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 314: Regional Economic Development Revolving Loan Program.
STATUTORY AUTHORITY: P.L. 1994, Ch. 722; 10 M.R.S.A. § 1026-M.
PURPOSE: Establishes the procedures, standards, fees, requirements and criteria for participation in the program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2002; Public Hearing: July 2002; Adoption Date: August 2002.
AFFECTED PARTIES: Local, regional and statewide nonprofit or governmental economic development corporations or entities and eligible businesses which receive loans.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 315: Family Development Account Program.
STATUTORY AUTHORITY: P.L. 1997, Ch. 518; 10 M.R.S.A. § 1075, et seq.
PURPOSE: Establishes the procedures, standards, fees, requirements, and criteria for participation in the program. Amendments will implement legislative changes.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: November 2002; Public Hearing: December 2002; Adoption Date: January 2003.
AFFECTED PARTIES: Individuals whose family income is below 200% of the non-farm income official poverty line as defined by the Federal Office of Management and Budget.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 316: Clean Fuel Vehicle Program
STATUTORY AUTHORITY: 10 M.R.S.A. Section 961
PURPOSE: This rule establishes the procedures and standards applicable to borrowers and financial institutions participating in the Authority's statewide program for making or insuring loans to finance the acquisition or lease of clean fuel vehicles or related components or facilities.
ANTICIPATED SCHEDULE: Approved for Rulemaking by FAME Board: June 2003, Public Hearing: July 2003, Adoption Date: August 2003
AFFECTED PARTIES: Those seeking to implement clean vehicle programs will receive the economic benefit of low interest financing.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 317: Nutrient Management Loan Program
STATUTORY AUTHORITY: 7 MRSA § 4201; P.L. 1999, Ch. 530
PURPOSE: Establishes the procedures, standards and fees applicable to Borrowers applying for loans from the Authority's program of direct loans for the finance of construction of livestock manure and milk room waste containment and handling facilities as set forth in the Nutrient Management Act, 7 MRSA § 4201 et seq., and Chapter 565 of the Rules of the Department of Agriculture, Food and Rural Resources, from a portion of the Clean Water Revolving Loan Fund, provided by the United States Environmental Protection Agency through the Maine Municipal Bond Bank and the Maine Department of Environmental Protection.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2003; Public Hearing: July 2003; Adoption Date: August 2003
AFFECTED PARTIES: Any agricultural enterprises in Maine which generate or utilize nutrients in their operations, and which are in immediate need for financing to build facilities to comply with applicable law and regulations.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 318: Wells and Plymouth Waste Oil Clean-up Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969 (14); P.L. 1999; Ch. 505
PURPOSE: This rule establishes the procedures and standards applicable to grant and loan recipients and financial institutions participating in the Authority's statewide program for awarding grants and for making or insuring loans to finance the response costs incurred by responsible parties for the investigation, removal and remediation of waste-oil contamination at the Portland-Bangor Waste Oil Services Sites in Wells and Plymouth, Maine.
ANTICIPATED SCHEDULE: Approval for Rulemaking: June 2003; Adoption Date: August 2003.
AFFECTED PARTIES: This rule is necessary to inform borrowers and financial institutions of the requirements and standards for obtaining either direct loans, grants or mortgage loan insurance to finance the response costs incurred by borrowers in connection with the clean-up of the Wells and Plymouth Waste Oil Disposal Sites.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 319: Maine Economic Development Venture Capital Revolving Investment Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1026-N
Purpose: To make necessary adjustments to the Maine Economic Development Venture Capital Revolving Investment program to insure its efficient administration.
ANTICIPATED SCHEDULE: Approval for Rulemaking: June 2003, Public hearing: July 2003; Adopted: August, 2003.
AFFECTED PARTIES: Venture Capital Funds and early stage businesses may be benefited by the amendment.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 601: Maine State Grant Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 20-A M.R.S.A. § 11613.
PURPOSE: To make necessary adjustments to the Maine Student Incentive Scholarship Program to insure its efficient administration.
ANTICIPATED SCHEDULE: Approval for Rulemaking: September 2002; Public Hearing: October 2002; Adopted: November 2002.
AFFECTED PARTIES: Secondary school students who may be eligible for a Maine State Grant.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 602: Maine Guaranteed Student Loan Programs.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 20-A M.R.S.A. § 11401 et seq.
PURPOSE: To provide for the efficient administration of the Program to allow eligible students to apply for and obtain Guaranteed Student Loans; to make changes in accordance with Federal legislation, U.S. Dept. of Education regulatory and policy changes.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: September 2002; Public Hearing: October 2002; Adoption Date: November 2002.
AFFECTED PARTIES: Students who wish to participate in the Maine Guaranteed Student Loan programs; lenders participating in the Maine Guaranteed Student Loan programs.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 605: Robert C. Byrd Honors Scholarship Program.
STATUTORY AUTHORITY: State Authority - 10 M.R.S.A. § 969-A and 10 M.R.S.A. § 1013;
Federal Authority -20 U.S.C. 1070 d-31 et seq.; 34 CFR Part 654.
PURPOSE: To provide for the efficient administration of the Program to allow eligible students to apply for and obtain Robert C. Byrd Scholarships and to make changes as necessary to comply with federal legislation, regulation and policy directives.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: April 2003; No Public Hearing Proposed; Adoption Date: June 2003.
AFFECTED PARTIES: Students who wish to participate in the Robert C. Byrd Scholarship Program.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 607: Access to Medical Education and Health Professions Loan Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 20-A M.R.S.A. § 12103.
PURPOSE: To amend the procedures for eligibility for participants in the Access to Medical Education and Health Professions Loan Programs for the more efficient administration of the Programs.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: January 2003; Public Hearing: February 2003; Adoption Date: March 2003.
AFFECTED PARTIES: Maine residents entering post-graduate studies in medical professions.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 608: Tuition Waiver at Post-Secondary Educational Institutions.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 20-A M.R.S.A. § 12554.
PURPOSE: To provide guidelines for the administration and implementation of the program. To make amendments necessary to implement legislative changes.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2003; Public Hearing: July 2003; Proposed Adoption Date: August 2003.
AFFECTED PARTIES: Children or spouses of firefighters, law enforcement officers, or emergency medical service providers who were killed or received an injury resulting in death in the line of duty or children in the custody of the State.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 610: Educators for Maine Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 20-A M.R.S.A. § 12501.
PURPOSE: To provide for the implementation and administration of the Educators for Maine Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2003; Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: Students evidencing an interest in becoming teachers, or speech pathologists, or child care providers and teachers pursuing continuing education.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 611: Maine College Savings Program.
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14); 20-A M.R.S.A. §11489.
PURPOSE: To provide for the amendment of current procedures to incorporate federal and state law changes, program enhancements, and to provide for the efficient administration of the Maine College Savings Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: February 2003; Public Hearing: March 2003; Adoption Date: April 2003.
AFFECTED PARTIES: All Maine residents interested in attending an institution of higher education or assisting someone else to attend an institution of higher education.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 612: Maine Dental Education Loan and Loan Repayment Programs.
STATUTORY AUTHORITY: 20-A M.R.S.A. § 12301, P.L. 1999, Ch. 401.
PURPOSE: To provide funds for loans to Maine residents enrolled in a school of dental education or to repay loan agreements for practicing doctors of dental medicine who practice in underserved population areas.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: February 2003; Public Hearing: No Public Hearing proposed; Adoption Date: April 2003.
AFFECTED PARTIES: All Maine residents interested in attending or who are currently enrolled in or recently graduated from an institution offering a doctorate of dental education.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 613: Quality Child Care Education Scholarship Program
STATUTORY AUTHORITY: 10 MRSA § 969-A (14), 20-A MRSA § 11670; and P.L. 1999,
Ch. 401
PURPOSE: This rule is necessary to notify potential Scholarship recipients of the requirements and standards for obtaining grants from the Quality Child Care Education Scholarship Fund.
ANTICIPATED SCHEDULE: Approval for Rulemaking: May 2003, Public Hearing: June 2003; Adoption Date: July 2003.
AFFECTED PARTIES: This rule implements the program to continue to make grants from the Quality Child Care Education Scholarship Fund for eligible applicants.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 614: The University Of Maine System Scholarship Program
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A(14); 20-A M.R.S.A. § 11631.
PURPOSE: Establishes the procedures and standards for the distribution of proceeds from the sales of University of Maine System license plates and sets eligibility criteria for grant recipients and procedures for the administration and implementation of the program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2003; Public Hearing: July 2003; Adoption Date: August 2003.
AFFECTED PARTIES: Maine students attending a University of Maine System school who seek financial aid and the schools they attend may be affected.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

NEW RULE: Major Business Expansion.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969-A (14); 10 M.R.S.A. § 1044; 10 M.R.S.A.
§ 1054.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing bond financing, including financing for paper industry job retention projects and to bring the program in compliance with the changes in federal or state law or regulation.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: January 2003;
Public Hearing: February 2003; Adoption Date: March 2003.
AFFECTED PARTIES: Maine Businesses seeking tax exempt financing.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

Amendment dated June 16, 2003

EMERGENCY RULES ADOPTED SINCE LAST REGULATORY AGENDA:

CHAPTER 318: Wells and Plymouth Waste Oil Clean-up Program.
STATUTORY AUTHORITY: 10 M.R.S.A. § 969 (14); P.L. 1999; Ch. 505
PURPOSE: The amendment is necessary to address changes to the law governing the program as set forth in PL 2003, Chapter 129. The amendment (a) provides for further deferment of loan repayments; (b) expands the eligible uses of the fund, including attorneys' fees in limited circumstances; and (c) extends a previous application deadline to allow for new applications.

The rule amendment was adopted on an emergency basis on May 15, 2003. The Authority found that emergency adoption of the rule was warranted in light of the emergency nature and effective date of PL 2003, Chapter 129. The Authority found such facts to represent an immediate threat to the public's general welfare and adoption of the rule amendment on an emergency basis necessary to avoid such threat.

ANTICIPATED SCHEDULE FOR NON-EMERGENCY RULEMAKING: Chapter 318, Wells and Plymouth Waste Oil Clean-up Program; Approval for Rulemaking: May 15, 2003; Public Hearing: June 19, 2003; Adoption Date: August 21, 2003.
AFFECTED PARTIES: The rule provides an economic benefit to those who are eligible to receive loans.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

UNEXPECTED FISCAL YEAR 2003-2004 RULE-MAKING ACTIVITY:

CHAPTER 2: Rules For The Award Of Contracts For Services For The Student Loan Secondary Market Loan Purchase Program
STATUTORY AUTHORITY: 20-A M.R.S.A. §§ 11407(5)
PURPOSE: This chapter outlines the procedures to be used in the awarding of contracts for administrative services for the Student Loan Secondary Market Loan Purchase Program pursuant to 20-A M.R.S.A. §§ 11407(5).
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 19, 2003; Public Hearing July 17, 2003; Adoption Date: August 21, 2003
AFFECTED PARTIES: Service providers for federal guaranteed student loans.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 615: Higher Education Loan Purchase Program
STATUTORY AUTHORITY: 20-A M.R.S.A. §§ 417F, as enacted by PL 2003, ch. ____.
PURPOSE: To implement the Higher Education Loan Purchase Program
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: July 17, 2003; Public Hearing: August 21, 2003; Adoption Date: September 2003
AFFECTED PARTIES: Maine students and families, students attending institutions of higher education, lenders offering or holding guaranteed student loans to Maine students or families.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

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