An Act To Amend The Statutory Balance Limit On The Finance Authority Of Maine'S Loan Insurance Reserves For General Fund Transfers

LD 1208 increases the maximum combined balance allowed in Maine's Loan Insurance Reserve and Mortgage Insurance Fund from $50 million to $65 million. This change allows the Finance Authority of Maine to hold more funds in these reserves without requiring a transfer back to the General Fund. The bill maintains a $1 million annual transfer limit from the General Fund's unappropriated surplus to the Loan Insurance Reserve, as long as the total in both funds stays under $65 million. The policy directly affects how Maine manages its loan insurance programs and state fund allocations.