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2012 Maine Revised Statutes
TITLE 5: ADMINISTRATIVE PROCEDURES AND SERVICES
Chapter 383: ECONOMIC AND COMMUNITY DEVELOPMENT
5 §13090-M. Visual and Digital Media Loan Program (WHOLE SECTION TEXT EFFECTIVE UNTIL 12/31/15) (WHOLE SECTION TEXT REPEALED 12/31/15 )

Universal Citation:
5 ME Rev Stat § 13090-M (2012 through 125th Legis)
Learn more This media-neutral citation is based on the American Association of Law Libraries Universal Citation Guide and is not necessarily the official citation.

Part 18-A: ECONOMIC AND COMMUNITY DEVELOPMENT

Subchapter 3: TOURISM AND COMMUNITY DEVELOPMENT

§13090-M. Visual and Digital Media Loan Program

(CONTAINS TEXT WITH VARYING EFFECTIVE DATES)

(WHOLE SECTION TEXT EFFECTIVE UNTIL 12/31/15)

(WHOLE SECTION TEXT REPEALED 12/31/15 )

1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings.

A. "B-roll" means scenic background film footage that does not include actors and is not used in the final visual media production. [2011, c. 372, §1 (NEW).]

B. "Digital media project" has the same meaning as in section 13090-L, subsection 2-A, paragraph A. [2011, c. 372, §1 (NEW).]

C. "Fund" means the Visual and Digital Media Loan Fund, established pursuant to Title 10, section 1023-O. [2011, c. 372, §1 (NEW).]

D. "Program" means the Visual and Digital Media Loan Program established in subsection 2. [2011, c. 372, §1 (NEW).]

E. "Visual media production" has the same meaning as in section 13090-L, subsection 2-A, paragraph D. [2011, c. 372, §1 (NEW).]

[ 2011, c. 372, §1 (NEW) .]

2. Administration. The Visual and Digital Media Loan Program is established to promote digital media projects and visual media productions in the State that will assist in job creation and promote tourism in the State. The commissioner shall administer the program in accordance with this section.

[ 2011, c. 372, §1 (NEW) .]

3. Loan conditions. The commissioner may use the fund to provide loans for digital media projects or visual media productions of up to $500,000 per project or production, not to exceed 20% of the project's or production's proposed preproduction and production budget. A loan from the fund is subject to terms and conditions prescribed by rule by the commissioner and by the Finance Authority of Maine pursuant to Title 10, section 1023-O. The rules may also provide a mechanism for reserving funds for, or giving priority to, projects or productions determined by the commissioner to most effectively promote tourism and job creation in the State. Rules adopted pursuant to this subsection are routine technical rules as defined in Title 5, chapter 375, subchapter 2-A. When considering loans under this section, the commissioner shall consult with the Finance Authority of Maine.

[ 2011, c. 372, §1 (NEW) .]

4. Loan forgiveness criteria. A borrower under a loan under subsection 3 may apply to the commissioner for loan forgiveness upon completion of the digital media project or visual media production. The borrower must demonstrate to the satisfaction of the commissioner that the following criteria have been met:

A. The project or production has a total budget, including preproduction, production and postproduction costs and expenses, that exceeds $100,000; [2011, c. 372, §1 (NEW).]

B. Seventy-five percent of the completed project or production has been filmed in the State; [2011, c. 372, §1 (NEW).]

C. A marketing plan with respect to the project or production includes promotion and acknowledgment of the project's or production's filming in the State; [2011, c. 372, §1 (NEW).]

D. A signed agreement with the department provides the department with access to a film trailer and all b-roll footage, if applicable, provided free of charge to the State for tourism promotion activities; and [2011, c. 372, §1 (NEW).]

E. A signed agreement with the department provides that the project or production will not be the basis for a claim for an income tax credit under Title 36, section 5219-Y or reimbursement under Title 36, chapter 919-A. [2011, c. 372, §1 (NEW).]

[ 2011, c. 372, §1 (NEW) .]

5. Certification by commissioner. The commissioner must certify a digital media project's or visual media production's eligibility for a loan under subsection 3 to the Finance Authority of Maine prior to the disbursement of any funds by the authority pursuant to Title 10, section 1023-O.

[ 2011, c. 372, §1 (NEW) .]

6. Administration. The commissioner may contract with the Finance Authority of Maine to assist in the administration of this section.

[ 2011, c. 372, §1 (NEW) .]

7. Repeal. This section is repealed December 31, 2015.

[ 2011, c. 372, §1 (NEW) .]

SECTION HISTORY

2011, c. 372, §1 (NEW).

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