Bill > LD1673

This bill establishes a pilot project to integrate economic impact statements into the legislative process, with the Legislative Council and University of Maine System collaborating to develop and implement the initiative. By July 15, 2025, the Legislative Council will issue a request for proposals to create an economic impact statement model that analyzes legislation's broad economic effects, including impacts on jobs, investment, income, GDP, taxes, and workforce attraction. During the Second Regular Session of the 132nd Legislature, the University of Maine System will select and analyze at least three pieces of legislation in key areas such as taxation, housing, healthcare, energy, and education, prioritizing bills that significantly affect employment, labor laws, or the state economy. The economic impact analysis will complement existing fiscal impact statements. After completing the pilot project, the University of Maine System will submit a report to the Legislative Council within 45 days of the session's adjournment, detailing the effectiveness of including economic impact statements. Based on this report, the Legislative Council will decide whether to recommend expanding the use of such statements and potentially propose legislation for the 133rd Legislature by November 4, 2026, with the bill taking effect immediately upon approval.

Government Affairs

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1673&snum=132