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Maine Small Business Bond Issue, Question 3 (2014)

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Question 3
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Type:Bond issue
Referred by:Maine Legislature
Topic:Bonds
Status:On the ballot
2014 measures
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The Maine Small Business Bond Issue, Question 3 is on the November 4, 2014 ballot in Maine as a legislatively-referred bond question. If approved, the measure would issue $4 million in bonds to insure loans to small businesses and $8 million in bonds for flexible loans to small businesses[1]

Text of measure

Ballot title

The language will appear on the ballot as:[1]

Question 3: Bond Issue

Do you favor a bond issue to provide $4,000,000 in funds to insure portions of loans to small businesses to spur investment and innovation and to provide $8,000,000 in funds to make flexible loans to small businesses to create jobs, revitalize downtowns and strengthen the rural economy?[2]

Full text

The full text of the measure is as follows can be read here.[3]

Fiscal note

The following fiscal note was provided Question 3:[4]

ME Question 3 2014 fiscal note.JPG

Background

The election that will take place in Maine on November 4, 2014, is known as a referendum election. According to the Maine Bureau of Corporations, Elections and Commissions, "Referendum Elections are held to provide Maine’s citizens an opportunity to vote on People’s Veto Referenda, Direct Initiatives of Legislation (i.e. Citizen Initiatives), Bond Issues, other referenda proposed by the Legislature, and Constitutional Amendments. Referendum elections are an important part of the heritage of public participation in Maine."[5]

Path to the ballot

See also: Legislatively-referred state statute

According to Article IX, Section 14 of the Maine Constitution, a two-thirds vote in both chambers of the Maine Legislature was required to put bond issues before voters.

See also

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References