An Act To Authorize A General Fund Bond Issue For Capital Improvements For Arts And Cultural Facilities

This bill authorizes the State of Maine to issue up to $50,000,000 in bonds to fund capital improvements for nonprofit arts and cultural facilities. The funds would be distributed through the Maine State Cultural Affairs Council to support upgrades and construction projects for these organizations across the state. Before the money can be spent, the bill must be approved by voters in a statewide referendum held after its passage. If approved, the bonds would be repaid over a maximum of 10 years using state funds, with any leftover money eventually used to pay off other state debts.