An Act To Authorize A General Fund Bond Issue To Invest In Research, Development And Commercialization In Maine'S Marine Technology And Aquaculture Sector

This bill authorizes the issuance of up to $25 million in state bonds to fund research, development, and commercialization projects within Maine's marine technology and aquaculture sectors. The money would be distributed through a competitive process to both public and private entities for infrastructure, equipment, and technology upgrades, with the goal of helping organizations gain market share and preserve or create jobs. The legislation requires voter approval through a referendum before the funds can be used and mandates that any unspent money be returned to the state treasury within ten years.