Maine Revised Statutes Title 20-A Sec. 12525 – Maximum loan repayment; participation
Current as of: 2023 | Check for updates
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Terms Used In Maine Revised Statutes Title 20-A Sec. 12525
- Authority: means the Finance Authority of Maine. See Maine Revised Statutes Title 20-A Sec. 12521
- Eligible individual: means a person who:
A. See Maine Revised Statutes Title 20-A Sec. 12521Program: means the Maine Engineers Recruitment and Retention Program established in section 12522. See Maine Revised Statutes Title 20-A Sec. 12521 Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
The maximum program loan repayment amount available to each eligible individual, excluding the employer’s match under section 12526, is $2,500 per year, for a maximum of 4 years. No more than 10 program loan repayment agreements may be awarded in any year. The authority may not award more than 40% of the program loan repayment agreements in any one year to individuals who are eligible under the provisions of section 12521, subsection 5, paragraph B. [PL 2003, c. 710, §2 (NEW).]
SECTION HISTORY
PL 2003, c. 710, §2 (NEW).