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Home > Agendas > 2006-2007 > Finance Authority of Maine

2006-2007 Regulatory Agendas

94-457
Finance Authority of Maine (FAME)

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 2006-2007 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: January 2007; Adoption Date: March 2007
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 2: Rules For The Award Of Contracts For Services For The Higher Education Loan 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 2007; Public Hearing July 2007; Adoption Date: August 2007
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 3: Certificate of Approval Process for Loring Development Authority Projects
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14), 5 MRSA §13080-G(2)(C)
PURPOSE: To set up standards and procedures for the implementation of the Authority’s review of bond proposals submitted by the Loring Development Authority..
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2007; Public Hearing: June 2007; Adoption Date: July 2007
AFFECTED PARTIES: The Loring Development Authority and any business that seeks to have a bond issued for their benefit by the Loring Development Authority.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

CHAPTER 101: 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: November 2006; Public Hearing: December 2006; Adoption Date: January 2007
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 104: Secondary Market Taxable Bond Program.
ANTICIPATED SCHEDULE: Repealed.

CHAPTER 105: Secondary Market Tax-Exempt Bond Program .
ANTICIPATED SCHEDULE: Repealed.

CHAPTER 106: Agricultural Operating Loan Insurance Program .
ANTICIPATED SCHEDULE: Repealed.

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: May 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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, and to bring the program in compliance with the changes in federal or state law or regulation. To provide consistency among the various bond financing programs
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: May 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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: September 2006; Public Hearing: October 2006; Adoption Date: November 2006.
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 2007;
Public Hearing: February 2007; Adoption Date: March 2007.
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.

NEW RULE: CHAPTER 205: Transmission Facilities Bond Program
STATUTORY AUTHORITY: PL 2003, ch. 506; 10 M.R.S.A. §1053
PURPOSE: To set out standards and procedures for the implementation and efficient administration of the Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: December 2006; Public Hearing: January 2007; Adoption Date: February 2007.
AFFECTED PARTIES: Eligible transmission facilities projects.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

NEW RULE: CHAPTER 206: Waste Facilities Bond Program
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A(14); 38 M.R.S.A. §2212
PURPOSE: To set out standards and procedures for the implementation and efficient administration of the Program.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: December 2006; Public Hearing: January 2007; Adoption Date: February 2007.
AFFECTED PARTIES: Eligible waste facilities projects.
CONSENSUS-BASED RULE DEVELOPMENT: The Authority does not intend to employ consensus-based rule development.

NEW RULE: CHAPTER 208: Major Business Expansion.
STATUTORY AUTHORITY: 10 M.R.S.A. §969-A (14); 10 M.R.S.A. §1053.
PURPOSE: To provide for the efficient administration of the program and to make changes necessary to better assist eligible borrowers in accessing bond financing, 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 2007;
Public Hearing: February 2007; Adoption Date: March 2007.
AFFECTED PARTIES: Maine Businesses seeking tax exempt financing.
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 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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: May 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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 306: Maine Opportunity Job Grants Program
ANTICIPATED SCHEDULE: Repealed.

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, and to better assist eligible applicants.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: June 2007; Public Hearing: July 2007; Adoption Date: August 2007.
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.
ANTICIPATED SCHEDULE: Repealed.

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 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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 310: Waste Oil Furnace Program.
ANTICIPATED SCHEDULE: Repealed.

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 2007; Public Hearing: February 2007; Adoption Date: March 2007.
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 2007; Public Hearing: June 2007; Adoption Date: July 2007.
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: To amend the rule to incorporate legislative changes or to more efficiently administer the programs and assist borrowers.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: August 2007; Public Hearing: September 2007; Adoption Date: October 2007.
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: February 2007; Public Hearing: March 2007; Adoption Date: April 2007.
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 This is the version used for the Emergency Adoption.
STATUTORY AUTHORITY: 10 M.R.S.A. §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: May 2007, Public Hearing: None, Adoption Date: July 2007.
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: 10 M.R.S.A. §969-A (14)
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 M.R.S.A. §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 2007; Public Hearing: July 2007; Adoption Date: August 2007
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)
PURPOSE: Amend the rule to implement changes to 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: May 2007; Public Hearing: June 2007; Adoption Date: July 2007.
AFFECTED PARTIES: This rule amendment 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 2007, Public hearing: July 2007; Adopted: August 2007.
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 State Grant Program to insure its efficient administration.
ANTICIPATED SCHEDULE: Approval for Rulemaking: August 2006; Public Hearing: September 2006; Adopted: October 2006.
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, and U.S. Dept. of Education regulatory and policy changes.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: November 2006; Public Hearing: December 2006; Adoption Date: January 2007.
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 2007; No Public Hearing Proposed; Adoption Date: June 2007.
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: March 2007; Public Hearing: April 2007; Adoption Date: May 2007.
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: August 2007; Public Hearing: September 2007; Proposed Adoption Date: October 2007.
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: September 2007; Public Hearing: October 2007; Adoption Date: November 2007.
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: October 2006; Public Hearing: November 2006; Adoption Date:December 2006.
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 2007; Public Hearing: No Public Hearing proposed; Adoption Date: April 2007.
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 M.R.S.A. §969-A (14), 20-A M.R.S.A. §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 2006, Public Hearing: June 2007; Adoption Date: July 2007.
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. Will be repealed due to statutory change.
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: January 2007; Public Hearing: February 2007; Adoption Date: March 2007.
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.

CHAPTER 615: Higher Education Loan Purchase Program
STATUTORY AUTHORITY: 20-A M.R.S.A. §§417F, as enacted by PL 2003, ch. 455.
PURPOSE: To implement the Higher Education Loan Purchase Program
ANTICIPATED SCHEDULE: Approval for Rulemaking by FAME Board: April 2007; Public Hearing: May 2007; Adoption Date: June 2007.
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.