Establishes a program to provide low-interest loans to trade graduates for necessary tools and equipment.

The bill establishes the Loans for Trade Tools Program, administered by the Finance Authority of Maine, to offer low-interest loans up to $20,000 to graduates of accredited colleges for trade tools and equipment. The program aims to support graduates in their employment. Employers can receive a tax credit for reimbursing employees for trade tools, up to $5,000 per employee. The bill appropriates $1,000,000 for each year of the 2026-2027 biennium to fund the program.

Establishes a program to provide low-interest loans to trade graduates for necessary tools and equipment.

The bill establishes the Loans for Trade Tools Program, administered by the Finance Authority of Maine, to offer low-interest loans up to $20,000 to graduates of accredited colleges for trade tools and equipment. The program aims to support graduates in their employment. Employers can receive a tax credit for reimbursing employees for trade tools, up to $5,000 per employee. The bill appropriates $1,000,000 for each year of the 2026-2027 biennium to fund the program.