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132nd MAINE LEGISLATURE
FIRST REGULAR SESSION-2025
Legislative Document No. 798H.P. 505 House of Representatives, March 4, 2025
An Act to Authorize a General Fund Bond Issue to Fund Mass
Timber Manufacturing
Received by the Clerk of the House on February 27, 2025. Referred to the Committee on
Appropriations and Financial Affairs pursuant to Joint Rule 308.2 and ordered printed pursuant
to Joint Rule 401.
ROBERT B. HUNT
Clerk
Presented by Representative ZAGER of Portland.
Cosponsored by Senator FARRIN of Somerset and
Representatives: DUCHARME of Madison, Speaker FECTEAU of Biddeford, GATTINE of
Westbrook, WADSWORTH of Hiram, Senators: BLACK of Franklin, CYRWAY of
Kennebec, President DAUGHTRY of Cumberland, ROTUNDO of Androscoggin. Page 1 - 132LR1769(01)1
2 accordance with the Constitution of Maine, Article IX, Section 14 to authorize the issuance
3 of bonds on behalf of the State of Maine to provide funds as described in this Act,
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6 direction of the Governor, to issue bonds in the name and on behalf of the State in an
7 amount not exceeding $50,000,000 for the purposes described in section 5 of this Act. The
8 bonds are a pledge of the full faith and credit of the State. The bonds may not run for a
9 period longer than 10 years from the date of the original issue of the bonds.
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11 shall ensure that an account of each bond is kept showing the number of the bond, the name
12 of the successful bidder to whom sold, the amount received for the bond, the date of sale
13 and the date when payable.
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15 may negotiate the sale of the bonds by direction of the Governor, but no bond may be
16 loaned, pledged or hypothecated on behalf of the State. The proceeds of the sale of the
17 bonds, which must be held by the Treasurer of State and paid by the Treasurer of State
18 upon warrants drawn by the State Controller, are appropriated solely for the purposes set
19 forth in this Act. Any unencumbered balances remaining at the completion of the project
20 in this Act lapse to the Office of the Treasurer of State to be used for the retirement of
21 general obligation bonds.
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23 due or accruing on any bonds issued under this Act and all sums coming due for payment
24 of bonds at maturity.
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26 proceeds of the sale of the bonds authorized under this Act must be expended as designated
27 in the following schedule under the direction and supervision of the agencies and entities
28 set forth in this section.
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30 Provides funds to the department to augment available funds in the Dirigo business
31 incentives program to help finance the design and construction or the retrofitting of a
32 manufacturing facility to produce mass timber in the State using sustainably harvested
33 forest products from this State. Mass timber is a category of framing products involving
34 large, engineered wood panels, often paired with engineered wood columns and beams,
35 for constructing buildings and includes cross-laminated timber, glue-laminated timber,
36 nail-laminated timber and dowel-laminated timber.
Total
$50,000,000
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38 become effective unless the people of the State ratify the issuance of the bonds as set forth
39 in this Act.
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42 unencumbered appropriation balances representing state money carry forward. Bond
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43 proceeds that have not been expended within 10 years after the date of the sale of the bonds
44 lapse to the Office of the Treasurer of State to be used for the retirement of general
45 obligation bonds.
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5 within 5 years of ratification of this Act are deauthorized and may not be issued, except
6 that the Legislature may, within 2 years after the expiration of that 5-year period, extend
7 the period for issuing any remaining unissued bonds for an additional amount of time not
8 to exceed 5 years.
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11 a statewide election held in the month of November following passage of this Act. The
12 municipal officers of this State shall notify the inhabitants of their respective cities, towns
13 and plantations to meet, in the manner prescribed by law for holding a statewide election,
14 to vote on the acceptance or rejection of this Act by voting on the following question:
15 "Do you favor a $50,000,000 bond issue to help finance the design and
16 construction or the retrofitting of a manufacturing facility to produce mass
17 timber in the State using sustainably harvested Maine forest products?"
18 The legal voters of each city, town and plantation shall vote by ballot on this question
19 and designate their choice by a cross or check mark placed within a corresponding square
20 below the word "Yes" or "No." The ballots must be received, sorted, counted and declared
21 in open ward, town and plantation meetings and returns made to the Secretary of State in
22 the same manner as votes for members of the Legislature. The Governor shall review the
23 returns. If a majority of the legal votes are cast in favor of this Act, the Governor shall
24 proclaim the result without delay and this Act becomes effective 30 days after the date of
25 the proclamation.
26 The Secretary of State shall prepare and furnish to each city, town and plantation all
27 ballots, returns and copies of this Act necessary to carry out the purposes of this
28 referendum.
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30 The funds provided by this bond issue, in the amount of $50,000,000, will be used to
31 help finance the design and construction or the retrofitting of a manufacturing facility to
32 produce mass timber in the State using sustainably harvested Maine forest products.
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