An Act To Authorize A General Fund Bond Issue To Improve Student Success And Workforce Readiness Within The University Of Maine System

This bill authorizes the State of Maine to issue up to $100 million in bonds to fund infrastructure improvements across all campuses of the University of Maine System. The funds are intended to upgrade classrooms, laboratories, and residence halls to increase student enrollment, enhance success rates, and better meet the needs of local employers. The legislation requires that these bond proceeds be matched by private and other non-state funds and mandates that the projects align with existing university capital plans. Before the money can be spent, the bill must be approved by voters in a statewide referendum held after the legislation is passed. If approved, the bond issue becomes effective 30 days after the Governor proclaims the results of the vote.