An Act To Promote Economic Development In Maine

132nd Legislature (2025-2026) Introduced by Chip Curry

LD 364 aims to promote economic development in Maine, boosting investment and jobs for businesses, developers, and residents, though exact measures aren’t disclosed yet.

Signed by Governor

#economicdevelopment #growthanddevelopment #planning

LD 364 — An Act To Promote Economic Development In Maine

Overview

LD 364 is a bill introduced in the Maine Legislature on January 30, 2025, titled “An Act To Promote Economic Development In Maine.” The sponsor is Sen. Curry of Waldo, with the Committee assigned to the Housing and Economic Development panel. The bill’s subject areas focus on Economic Development, Growth and Development, and Planning. As of the latest actions, the bill is carried over in the same posture to future sessions.

Basic Bill Details

Bill Number: LD 364

Title: An Act To Promote Economic Development In Maine

Sponsor: Sen. Curry (Waldo)

Committee: Housing and Economic Development

Introduced: January 30, 2025

Status: CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature (pursuant to Joint Order SP 800)

Classification/Subject: Economic Development, Growth and Development, Planning

Fiscal Note

Document: Fiscal Note (Document 1)

Status: Approved February 7, 2025

Content: Preliminary Fiscal Impact Statement for the original bill; described as a “Concept Draft – Insufficient Data.” The note indicates no formal fiscal note was required at this stage, reflecting a lack of detailed revenue or expenditure data in the materials provided.

Legislative Actions and Timeline

01/30/2025: Referred to the Committee on Housing and Economic Development (Joint Rule 308.2)

03/21/2025: CARRIED OVER to the next special or regular session (SP 519)

05/16/2025: Work Session Held — TABLED

05/19/2025: Carry Over Requested

05/19/2025: Carry Over Approved

06/25/2025: CARRIED OVER, in the same posture, to any special or regular session (SP 800)

What the bill does (provisions)

Notable point: The materials provided do not include the bill’s substantive provisions or statutory changes. The text available is limited to the bill’s title, introductory materials, fiscal note status, and procedural history.

Consequence: Because no specific policy measures, programs, tax changes, or regulatory changes are described in the provided documents, the particular mechanisms by which the bill would promote economic development (e.g., incentives, funding programs, regulatory reforms, or planning mandates) are not disclosed here.

Potential Impact and Affected Stakeholders

Potential broad impact: If enacted, the bill could introduce economic development tools or reforms intended to stimulate investment, job creation, and growth in Maine. The exact effects would depend on the final provisions adopted in committee and any amendments in future sessions.

Affected parties: Businesses, developers, local governments, economic development organizations, and Maine residents seeking job opportunities could be affected, depending on the enacted measures (incentives, grants, regulatory changes, or planning improvements).

Next Steps and How to Follow

The bill remains in the same posture, carried over to future sessions. Monitor for:

Any new draft text or amendments released by the Committee on Housing and Economic Development
Additional fiscal analysis or a formal fiscal note
Action on SP 519 (the carry-over rule) and SP 800 (carry-over to SP 800)

For readers seeking detail, the next materials to review will likely include the committee's proposed language, fiscal impact analyses, and any amendments proposed in upcoming sessions.