Bill > LD788

This bill amends existing Maine state law to modify how the Maine Economic Growth Council tracks and reports on research and development (R&D) spending. Specifically, the bill removes previous language about reviewing an innovation economy action plan and developing specific bonding and General Fund appropriation investment levels. Instead, the bill establishes a new goal of increasing the state's R&D spending to match the national average by 2030 and maintaining that level thereafter. The council is now required to submit an annual accountability update by December 1st to the Governor and two legislative committees, detailing the state's aggregate R&D investments and providing data on the commercialization of laboratory-based innovation projects. Additionally, the bill allows the legislative committees that receive this update to potentially report out new legislation based on the recommendations or issues identified in the report. This change aims to create a more structured and forward-looking approach to tracking and promoting innovation and research spending in the state of Maine.

Housing and Urban Affairs

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=788&snum=132