Bill > LD786

This bill modifies the Maine Length of Service Award Program (LOSAP) trust fund by making the fund nonlapsing, which means any unspent money at the end of a fiscal year will automatically carry forward to the next year instead of being returned to the general fund. Specifically, the bill amends an existing statute related to how the LOSAP trust fund is managed, adding language that explicitly states that any unexpended balance in the program trust fund at the end of a year will not lapse and can be used by the board in subsequent years for program purposes. The LOSAP is typically a program that provides financial benefits to volunteer firefighters and emergency medical service personnel to recognize their years of service and encourage retention of these critical first responders. By ensuring the fund's balance can be preserved from year to year, the bill aims to provide more financial stability and flexibility for managing the program's resources.

Justice

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=786&snum=132