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Bill > LD1013
ME LD1013
An Act to Protect Taxpayers by Requiring Referenda on Significant Municipal Debt
summary
Introduced
03/12/2025
03/12/2025
In Committee
03/12/2025
03/12/2025
Crossed Over
05/13/2025
05/13/2025
Passed
Dead
05/22/2025
05/22/2025
Introduced Session
132nd Legislature
Bill Summary
This bill requires that a municipality seeking to issue a bond in the amount of $10,000,000 or more must call a referendum for the voters of the municipality to approve the bond. The referendum must be held on the first Tuesday in November. The procedure for the referendum must follow the procedures established in the relevant current law.
AI Summary
This bill introduces a new requirement for municipalities in Maine that want to issue large bonds, specifically mandating that any bond of $10 million or more must be approved by voters through a referendum. The referendum will be held on the first Tuesday in November and must follow existing procedures outlined in current state law, specifically section 2354 and Title 21-A. By requiring voter approval for significant municipal debt, the bill aims to provide taxpayers with direct input on major financial decisions that could impact their local community's finances. The legislation adds a new section (§5712-A) to the Maine Revised Statutes Annotated (MRSA) Title 30-A, which governs municipal operations, and ensures transparency and direct democratic participation in substantial municipal borrowing decisions.
Committee Categories
Government Affairs
Sponsors (1)
Last Action
Placed in the Legislative Files. (DEAD) (on 05/22/2025)
bill text
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1013&snum=132 |
| Fiscal Note: Text | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN101301.pdf |
| BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=SP0430&item=1&snum=132 |
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