MaineMaine voters would decide whether to fund mass timber manufacturing
Maine voters would decide whether the State can borrow up to $50 million to help a factory make building materials from sustainably harvested Maine wood.
What it does
If voters approve the bonds, Maine could borrow up to $50 million to add to a business incentives program and help pay to design, build, or update a mass timber factory.
Argument forIf voters approve the bonds, state support could help pay for a Maine factory that makes building materials from sustainably harvested Maine wood.
Argument againstBorrowing could leave Maine responsible for repaying up to $50 million plus interest, even if the factory produces less than expected.
More detail
The State Treasurer could issue up to $50 million in state bonds, under the Governor’s direction, to support a mass timber manufacturing facility. The facility must be in Maine and make mass timber using sustainably harvested forest products from Maine. Mass timber includes large engineered wood panels and related beams and columns used to construct buildings. Voters must approve the bond issue before these provisions take effect. The money would add to available funds in the Dirigo business incentives program. The Act would take effect 30 days after the Governor proclaims voter approval. Bonds not issued within five years after ratification would be canceled unless the Legislature extends the deadline.
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Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 29The Bill was in the possession of the Committee on Appropriations and Financial Affairs when the Legislature adjourned Sine Die and was placed in the Legislative Files. (DEAD)Latest
- 2025
- Jun 25Carry Over Approved
- Jun 25Carried over, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
- Mar 21Carried over, in the same posture, to the next special or regular session of the 132nd Legislature, pursuant to Joint Order SP 519.
- Feb 27The Bill was REFERRED to the Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401.Minor
- Feb 27Received by the Clerk of the House on February 27, 2025.Introduced
Economy & Jobs