The penultimate day of public hearings on referred bonds began this morning. AFA heard from sponsors and proponents of the following bills:
- LD 3, An Act To Authorize a General Fund Bond Issue for Maintenance and Improvement of Maine National Guard Facilities
- LD 75, An Act To Authorize a General Fund Bond Issue To Replace and Repair Bureau of Forestry Aircraft
- LD 133, An Act To Authorize a General Fund Bond Issue To Invest in Fire Stations
- LD 969, An Act To Authorize a General Fund Bond Issue for the Construction of a Convention Center in Portland, Improvements to the Augusta Civic Center and a Competitive Grant Program for Capital Improvements to Public Venues across the State
The committee amendment for LD 1507, An Act To Establish a Local Fiscal Recovery Funds Program and Allocation is available now. This bill will be considered tomorrow in session.
Hearings on referred bond bills concludes Thursday at 10:00 AM. The full schedule can be found here.
Votes and discussions from that meeting and future meetings will be found here along with history on past budgets.
Revenue Forecast Committee
The Revenue Forecast Committee (RFC) convened this afternoon to implement the recommendations of the Consensus Economic Forecasting Commission (CEFC). General Fund revenues are slated to increase by $922.5M over this fiscal year (FY21) and the upcoming biennium.
Due to extraordinary actions by the Federal government, Maine’s economy is roughly back to where it was projected to be before the pandemic. $83M over with respect to this fiscal year and $58M next year according to the Governor. It is worth noting that a great deal of this activity may be associated with one-time federal funds.
The RFC will present the report to the Appropriations committee on Monday, May 3.