LD902

Establishes the Medical Debt Relief Program to relieve medical debt for low-income Maine residents.

The bill establishes the Medical Debt Relief Program to relieve medical debt for Maine residents with incomes up to 400% of the federal poverty level. The program, administered by the Department of Professional and Financial Regulation, Bureau of Consumer Credit Protection, can purchase, cancel, or forgive eligible medical debts. Eligible debts must be incurred for medical services, products, or devices, be in collection or sold, and the debtor must meet income requirements. The program excludes forgiven debt from taxable income and requires notification of debt relief.