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March continues to be a busy month for the League’s Governmental Affairs team. Earlier this week, the League submitted a letter to Maine’s federal delegation highlighting concerns with the Small Business Administration’s Paycheck Protection Program (PPP). All four offices thanked the League for its input. Additional follow-up on this issue will be forthcoming.
In Augusta, Maine lawmakers met for the first time in nearly a year to conduct legislative business. The Legislature abruptly adjourned in March 2020 due to the spread of COVID-19. Legislators were sworn-in last December but have not reconvened since.
The most pressing matter facing lawmakers has been the passage of the supplemental budget. The budget contains a provision to address PPP loan forgiveness. Currently under Maine tax law, PPP income for Maine businesses is considered taxable. For the past several weeks, Governor Mills, along with legislative leaders from both parties have been negotiating an agreement to forgive the PPP tax. Late Thursday evening, the Legislature passed the supplemental budget.
The League continues to monitor dozens of bills before various legislative committees. The League testified in support of LD 671, a bill sponsored by Senate President Troy Jackson to change Maine’s gaming law to allow for online raffle sales. Another similar bill sponsored by Republican Leader Jeff Timberlake, LD 685, will soon have be considered at a public hearing as well. The League is supportive of these efforts as many credit unions are looking to continue their charitable efforts through online means.