AUGUSTA - Rep. Tiffany Roberts, D-South Berwick, presented LD 1793, An Act To Support Statewide Economic Recovery through Strategic Investments, before the Committee On Innovation, Development, Economic Advancement and Business on Tuesday.
The bill would provide the Department of Economic and Community Development (DECD) the authority to directly grant, loan and invest money in private entities. Although DECD has long managed programs that provide funds to private businesses, those funds have always flowed through partner organizations like economic development districts and municipalities, creating administrative complications and slowing down fund disbursement.
"The influx of new funds and programming over the past two years has increased the need for flexibility in how DECD may distribute money," said Roberts. "This bill would address the need for administrative flexibility, further boosting economic recovery throughout our state as we continue to recover from the devastating impacts inflicted by the COVID-19 pandemic."
"Allowing DECD to transfer funds to private entities would simplify program structures and lower administrative costs," said Commissioner Heather Johnson, who testified in support of the bill. "Maine is fortunate to be a state where local, regional and statewide organizations work well together, but it is also important that we have the authority to execute programs directly if other options are not available in an efficient, cost effective manner."
Roberts is serving her second term in the Maine House of Representatives and serves as House chair of the Legislature's Innovation, Development, Economic Advancement and Business Committee.
Contact:
Jackie Merrill [Roberts], c. 812-1111