An Act To Authorize A General Fund Bond Issue To Strengthen The Resilience And Growth Of Maine'S Agricultural Economy

LD 1140 authorizes a $45 million bond issue to fund Maine's agricultural, food, and forest products sectors. The proceeds will be allocated as follows: $35 million to the Maine Agriculture, Food and Forest Products Investment Fund (with 2/3 supporting food/agriculture and 1/3 forest products), $5 million for the dairy sector, $2.5 million for farmer disaster relief, and $2.5 million for farmland protection through the Land for Maine's Future program. The bonds require voter approval via referendum and must be spent within 10 years, with unspent funds lapsing to retire general obligation bonds. This legislation directly affects farmers, food processors, forest product businesses, and land conservation efforts across Maine.