Maine § 5 §13063-C Job Retention Program

Maine Statutes

§ 5 §13063-C — Job Retention Program

Maine § 5 §13063-C

Title 5ADMINISTRATIVE PROCEDURES AND SERVICES

Part 18-AECONOMIC AND COMMUNITY DEVELOPMENT

This text of Maine § 5 §13063-C (Job Retention Program) is published on Counsel Stack Legal Research, covering Maine primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.

Bluebook

Me. Rev. Stat. tit. 5, § 5 §13063-C (2026).

Text

1.Establishment. The Job Retention Program is established within the Department of Economic and Community Development to encourage the retention of existing quality jobs in this State. Funds available in this program do not lapse but must be carried forward, except as provided in subsection 4, in order to carry out the purposes of this section.

2.Definitions. As used in this section the following terms have the following meanings.

3.Expenditures from the program. The commissioner shall authorize payment from the program in an amount not to exceed $150,000 annually. In determining the amount of payment to any certified retained business, the commissioner may use the calculation methodology established in Title 36, section 6754, subsection 1. A certified retained business may receive paym

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1.
Establishment.
The Job Retention Program is established within the Department of Economic and Community Development to encourage the retention of existing quality jobs in this State. Funds available in this program do not lapse but must be carried forward, except as provided in subsection 4, in order to carry out the purposes of this section.
2.
Definitions.
As used in this section the following terms have the following meanings.
3.
Expenditures from the program.
The commissioner shall authorize payment from the program in an amount not to exceed $150,000 annually. In determining the amount of payment to any certified retained business, the commissioner may use the calculation methodology established in Title 36, section 6754, subsection 1. A certified retained business may receive payments for a period not to exceed 10 years, only if the business continues to meet the criteria established in subsection 2. Payments must be made no later than July 31st of each fiscal year beginning in fiscal year 1997-98 and ending in fiscal year 2006-07. Payments received by a certified retained business pursuant to this section must be used for capital investments, including, but not limited to, the acquisition, refurbishments, upgrading, modification and leasing of buildings, machinery and equipment.
4.
Transfer from program.
Funds must be transferred from the program as follows:
5.
Investment of funds.
The money in the program may be invested as provided by law with the earnings credited to the program.
6.
Criteria for approval.
Prior to issuing a certificate of approval to a business, the commissioner must find that the applicant qualifies as a certified retained business. Notwithstanding the provisions of this section, the commissioner may not accept or certify an application for a certified retained business that is submitted by the applicant after February 28, 1997.

Legislative History

PL 1995, c. 706, §2 (NEW). PL 1997, c. 393, §A13 (AMD). PL 2001, c. 680, §1 (AMD). PL 2003, c. 451, §X10 (AMD). PL 2005, c. 2, §A9 (AMD). PL 2005, c. 2, §A14 (AFF).