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Maine Question 2, Science and Technology Research and Commercialization Bond Issue (2024)

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Maine Question 2
Flag of Maine.png
Election date
November 5, 2024
Topic
Bond issues
Status
Approveda Approved
Type
Bond issue
Origin
State Legislature

Maine Question 2, the Science and Technology Research and Commercialization Bond Issue, was on the ballot in Maine as a legislatively referred bond question on November 5, 2024.[1] The ballot measure was approved.

A "yes" vote supported authorizing $25 million in general obligation bonds to the Maine Technology Institute for research, development, and commercialization of Maine-based public and private institutions in support of technological innovation.

A "no" vote opposed authorizing $25 million in general obligation bonds to the Maine Technology Institute for research, development, and commercialization of Maine-based public and private institutions in support of technological innovation.


Election results

Maine Question 2

Result Votes Percentage

Approved Yes

433,394 54.28%
No 365,100 45.72%
Results are officially certified.
Source


Overview

What was this bond measure designed to provide money for?

See also: Text of measure

This bond issue authorized $25 million in general obligation bonds to the Maine Technology Institute for research, development, and commercialization of Maine-based public and private institutions in support of technological innovation. The funds were allocated in the targeted sectors of life sciences and biomedical technology, environmental and renewable energy technology, information technology, advanced technologies for forestry and agriculture, aquaculture and marine technology, composites and advanced materials and precision manufacturing.[2]

According to the fiscal note, the estimated cost of the bond was $30.8 million, with a $25 million in principal and, assuming a 4.25% interest rate over 10 years, $5.84 million in interest.[2]

What were recent bond measures on the ballot in Maine?

See also: Background

Voters of Maine cast ballots on 42 bond issues, totaling $1.65 billion ($1,647,925,000) in value, from 2007 to 2023. Voters approved 41 of 42 bond issues between 2007 and 2023. The last bond measure voters decided was in 2021, when voters approved Question 2 by 71.97%-28.03%.

Text of measure

Ballot title

The official ballot title was as follows:[3]

Do you favor a bond issue of $25,000,000 to provide funds, to be awarded through a competitive process and to leverage matching private and federal funds on at least a one-to-one basis, for research and development and commercialization for Maine-based public and private institutions in support of technological innovation in the targeted sectors of life sciences and biomedical technology, environmental and renewable energy technology, information technology, advanced technologies for forestry and agriculture, aquaculture and marine technology, composites and advanced materials and precision manufacturing?[4]

Full text

The full text of the ballot initiative is below:[2]

Readability score

See also: Ballot measure readability scores, 2024

Using the Flesch-Kincaid Grade Level (FKGL) and Flesch Reading Ease (FRE) formulas, Ballotpedia scored the readability of the ballot title for this measure. Readability scores are designed to indicate the reading difficulty of text. The Flesch-Kincaid formulas account for the number of words, syllables, and sentences in a text; they do not account for the difficulty of the ideas in the text. The secretary of state wrote the ballot language for this measure.

The FKGL for the ballot title is grade level 42, and the FRE is -59. The word count for the ballot title is 85.


Support

Supporters

Officials

Arguments

Ballotpedia did not locate arguments in support of the ballot measure.

Opposition

Ballotpedia did not locate a campaign in opposition to the ballot measure.

Campaign finance

See also: Campaign finance requirements for Maine ballot measures

Ballotpedia did not identify ballot measure committees registered to support or oppose the ballot measure.[5]

Cash Contributions In-Kind Contributions Total Contributions Cash Expenditures Total Expenditures
Support $0.00 $0.00 $0.00 $0.00 $0.00
Oppose $0.00 $0.00 $0.00 $0.00 $0.00
Total $0.00 $0.00 $0.00 $0.00 $0.00

Media editorials

See also: 2024 ballot measure media endorsements

Support

The following media editorial boards published an editorial supporting the ballot measure:

  • Portland Press Herald Editorial Board: "Too often we hear about how hard it is to do business in Maine. A well-timed grant can change everything for an entrepreneur with the will to succeed. With the potential for such cold, hard return on investment, and for the good of Maine’s reputation as a place for small and medium enterprise, Question 2 should be a open-and-shut case for voters."
  • Bangor Daily News Editorial Board: "Question 2 asks voters to approve $25 million in borrowing to replenish a competitive grant funding program run by the Maine Technology Institute. The money, like the funds from a $45 million bond that was strongly supported by Maine voters in 2017, would be awarded to projects in six target areas that are centered on long-standing industries in Maine: forestry and agriculture; aquaculture and marine technology; environmental and renewable energy; biomedicine and life sciences; composites and advanced materials and precision manufacturing; and information technology. The $45 million approved by voters in 2017 funded 18 projects, which brought in an additional $193 million from the private sector. This bond will continue state investment in innovation that has created jobs and helped to grow Maine’s economy."


Opposition

Ballotpedia did not locate media editorial boards in opposition to the ballot measure.

Background

Bond issues on the ballot in Maine

See also: Bond issues on the ballot

Voters of Maine cast ballots on 42 bond issues, totaling $1.65 billion ($1,647,925,000) in value, from January 1, 2007, through January 1, 2024. Voters approved 41 of 42 bond issues between 2007 and 2023. The last bond measure to be rejected was Question 2 (2012), which would have authorized $11 million in bonds to expand the state's community college system.

The following table contains information on the 42 bond issues that appeared on the ballot in Maine between January 1, 2007, through January 1, 2024:
Note: Click "Show" to expand the table.

Debt from voter-approved bonds

The state treasurer provided an overview of the state’s debt resulting from general obligation bonds, which included voter-approved bonds.[6] A general obligation bond constitutes a public debt and is paid for through state funds. Section 14 of Article IX of the Maine Constitution requires that general obligation bonds exceeding $2 million be referred to the ballot for voter approval.

Maine had $559.37 million in debt from general obligation bonds in June 2023.[7] The graph below provides an illustration of state debt from general obligation bonds and the annual amount of unissued bonds in millions of dollars between June 30, 2005, and June, 2023.

Path to the ballot

In Maine, voter approval is required for state bond issues that exceed $2 million, with exceptions to bonds for the purpose of suppressing insurrection, repelling invasion, or for purposes of war, as well as for temporary loans paid out of money raised by taxation during the fiscal year which they are made, or for loans to be paid within 12 months with federal transportation funds.

A two thirds majority (66.67%) vote is required during one legislative session for the Maine State Legislature to place a bond issue on the ballot. That amounts to a minimum of 101 votes in the Maine House of Representatives and 24 votes in the Maine State Senate, assuming no vacancies. State bond issues require the governor's signature to be referred to the ballot.

The legislation was introduced as Maine LD 416 in the 2023-2024 legislative session. On April 11, 2024, the measure passed the House. On April 16, 2024, the measure passed the Senate. Governor Janet Mills (D) signed the measure on April 22, 2024.[8]

How to cast a vote

See also: Voting in Maine

See below to learn more about current voter registration rules, identification requirements, and poll times in Maine.

How to vote in Maine


See also

External links

Footnotes

  1. Maine Legislature, "LD 416," accessed April 15, 2024
  2. 2.0 2.1 2.2 Cite error: Invalid <ref> tag; no text was provided for refs named text
  3. Maine Morning Star, "Here are the five referendum questions that will be on the November ballot," July 30, 2024
  4. Note: This text is quoted verbatim from the original source. Any inconsistencies are attributable to the original source.
  5. Maine Campaign Finance, "Maine Ethics Commission," accessed May 24, 2024
  6. Maine State Treasurer, "Bonds on the Ballot," accessed July 8, 2021
  7. Maine State Treasurer, "Maine's Debt Snapshot - 6/30/23," June 30, 2023
  8. State of Maine Legislature, "Maine LD 416," accessed April 15 2024
  9. Maine Revised Statutes, "Title 21-A, Chapter 9, Section 626," accessed April 14, 2023
  10. 10.0 10.1 10.2 10.3 10.4 Maine Bureau of Corporations, Elections & Commissions, "State of Maine Voter Guide," accessed April 14, 2023
  11. WMTW 8, “Maine governor signs automatic voter registration bill into law,” June 21, 2019
  12. Maine Legislature, "H.P. 804 - L.D. 1126: An Act To Update the Voter Registration Process," accessed June 8, 2023
  13. National Conference of State Legislatures, "Same Day Voter Registration," accessed January 31, 2023
  14. Department of the Secretary of State, "Maine Voter Registration Application," accessed November 1, 2024
  15. Under federal law, the national mail voter registration application (a version of which is in use in all states with voter registration systems) requires applicants to indicate that they are U.S. citizens in order to complete an application to vote in state or federal elections, but does not require voters to provide documentary proof of citizenship. According to the U.S. Department of Justice, the application "may require only the minimum amount of information necessary to prevent duplicate voter registrations and permit State officials both to determine the eligibility of the applicant to vote and to administer the voting process."
  16. Maine Secretary of State, "Your Right to Vote in Maine," accessed April 15, 2023