LD1208

Increases the statutory balance limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund transfers.

This bill amends the statutory balance limit on the Finance Authority of Maine's Loan Insurance Reserves for General Fund transfers. It raises the combined amount that the Finance Authority of Maine may have in its Loan Insurance Reserve and Finance Authority of Maine Mortgage Insurance Fund from $50,000,000 to $65,000,000 while still receiving a statutory transfer from the General Fund. The bill allows for a transfer of up to $1,000,000 from the unappropriated surplus of the General Fund under certain circumstances.