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) | ||||
|---|---|---|---|---|
| Result | Votes | Percentage | ||
 Yes | 296,299 | 58.90% | ||
| No | 206,760 | 41.10% | ||
Election results via: Maine State Law and Legislative Reference Library, Proposed Constitutional Amendments 1820-
Text of measure
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
- Maine State Guaranteed Loans for Veteran Housing, Proposed Constitutional Amendment No. 2 (1972)
- Maine Veterans' Mortgage Loans and School Building Authority Bond Issue Adjustments (1976)
See also
- Maine 1984 ballot measures
- 1984 ballot measures
- List of Maine ballot measures
- History of Initiative & Referendum in Maine
External links
- Bangor Daily News, "State of Maine Special Election November 6, 1984: Important Notice to All Voters of the State of Maine," October 30, 1984
- Maine State Law and Legislative Reference Library, Proposed Constitutional Amendments 1820-
Footnotes
- ↑ Maine State Law and Legislative Reference Library, "Proposed Constitutional Amendments 1820-," accessed April 24, 2014
- ↑ 2.0 2.1 Bangor Daily News, "State of Maine Special Election November 6, 1984: Important Notice to All Voters of the State of Maine," October 30, 1984
- ↑ 3.0 3.1 Constitutional Resolutions of the State of Maine as Passed at the Second Regular Session of the One Hundred and Eleventh Legislature, 1983, "Chapter 6," accessed April 24, 2014
- ↑ Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
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