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132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 788S.P. 348 In Senate, March 4, 2025
An Act to Promote an Innovation-driven Economy by Increasing
Research and Development Spending
Received by the Secretary of the Senate on February 27, 2025. Referred to the Committee
on Housing and Economic Development pursuant to Joint Rule 308.2 and ordered printed.
DAREK M. GRANT
Secretary of the Senate
Presented by Senator PIERCE of Cumberland.
Cosponsored by Speaker FECTEAU of Biddeford and
Senators: BENNETT of Oxford, President DAUGHTRY of Cumberland, LAWRENCE of
York, STEWART of Aroostook, Representative: CLOUTIER of Lewiston. Page 1 - 132LR1165(01)
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2 as enacted by PL 2007, c. 420, §6, is amended to read:
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4 The Maine Economic Growth Council, established in section
5 the Office of Innovation, established pursuant to Title 5, section 13105, and the Maine
6 Innovation Economy Advisory Board, under section 949, shall review the innovation
7 economy action plan, as described in Title 10, chapter , and develop specific annual
8 budgetary recommendations to support the plan’s vision and goals. These
9 recommendations must include specific bonding and General Fund appropriations
10 investment levels. By June 1st of each year, the council shall submit its recommendations,
11 along with an annual accountability update that summarizes the State’s commitment to
12 research and development investments in the prior year, to the Governor, the Legislature
13 and the joint standing committee of the Legislature having jurisdiction over business,
14 research and economic development issues support and track progress toward the goal of
15 increasing the State's research and development spending as a percentage of the State's
16 gross domestic product to meet the national average by 2030 and maintaining that national
17 average each year thereafter. By December 1st of each year, the council shall submit an
18 annual accountability update that summarizes the State's commitment to research and
19 development investments in the prior year to the Governor and the joint standing committee
20 of the Legislature having jurisdiction over research and economic development matters and
21 the joint standing committee of the Legislature having jurisdiction over appropriations and
22 financial affairs. In coordination with the Office of Innovation and the Maine Innovation
23 Economy Advisory Board, the council may also submit specific budgetary
24 recommendations to support this research and development spending goal.
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26 This bill adds supporting the goal of increasing research and development spending as
27 a percentage of the State's economy to meet the national average by 2030 to the
28 responsibilities of the Maine Economic Growth Council. It also directs the council to track
29 the progress toward the research and development spending goal and submit a report
30 annually to the joint standing committees of the Legislature having jurisdiction over
31 research and economic development matters and appropriations and financial affairs. The
32 council is also authorized to seek budgetary recommendations from the Office of
33 Innovation and the Maine Innovation Economy Advisory Board regarding the research and
34 development spending goal.
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