Authorizes a $25,000,000 bond issue for Maine-based businesses through the Small Enterprise Growth Fund.
This bill authorizes the issuance of $25,000,000 in bonds to fund the Small Enterprise Growth Fund, which supports small, independent Maine companies by accelerating their growth and expanding investment programs. The bond proceeds will be used to make direct investments into these businesses and to attract high-growth start-ups and equity investors to Maine. The bond issuance requires ratification by the people of Maine in a statewide election. If approved, the bonds will be a pledge of the full faith and credit of the State, with proceeds managed by the Treasurer of State.
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