Maine Extend Veterans Loan Guarantee Program to Businesses, Constitutional Amendment 7 (1984)

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The Maine Extend Veterans Loan Guarantee Program to Businesses Referendum, also known as Constitutional Amendment 7, was on the November 6, 1984 ballot in Maine as a legislatively-referred constitutional amendment, where it was approved.[1] The measure allowed the legislature to determine what share of a mortgage loan may be insured by the state under the Maine Veterans Loan Guarantee Program. It also allowed for the extension of the program to include loans to any business owned in whole or in part by a resident Maine veteran. This amended Section 14-D of Article IX of the Maine Constitution.[2][3]

Background

At the time this measure was approved, only 80 percent of a mortgage loan from the Maine Veterans Loan Guarantee Program could be insured by the state.[2]

The Maine Veterans Loan Guarantee Program was established by a legislatively-referred constitutional amendment in 1972. The bonding limit for these loans was increased to $4 million in 1976.

Election results

Maine Constitutional Amendment 7 (1984)
ResultVotesPercentage
Approveda Yes 296,299 58.90%
No206,76041.10%

Election results via: Maine State Law and Legislative Reference Library, Proposed Constitutional Amendments 1820-

Text of measure

See also: Maine Constitution, Article IX, Section 14-D

The language appeared on the ballot as:[3]

"Shall the Constitution of Maine be amended to allow the Legislature to set the limit for guaranteed business loans to Maine Veterans?" [4]

Constitutional changes

The full text of the constitutional changes made by this measure can be read here.

Similar measures

See also

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References