1. Establishment. The Maine Technology Institute, as established in section 12004-G, subsection 33-D, is a nonprofit corporation with public and charitable purposes. The duties, activities and operations of the institute are within the provisions of the federal Internal Revenue Code, Section 501(c)(3). [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 2. Purpose. The institute, through a public and private partnership, shall encourage, promote, stimulate and support research and development activity leading to the commercialization of new products and services in the State's technology-intensive industrial sectors to enhance the competitive position of those sectors and increase the likelihood that one or more of the sectors will support clusters of industrial activity and to create new jobs for Maine people. The institute is one element of the State's economic development strategy and will contribute to the long-term development of a statewide research, development and product deployment infrastructure. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 3. Board of Directors of the Maine Technology Institute. The institute is governed and all of its powers are exercised by a board of directors, referred to in this chapter as the "board," consisting of 13 voting members and 3 nonvoting members. A. The Governor shall appoint 10 voting directors, 8 of whom must be representatives of targeted technologies. The other 2 directors must have demonstrated significant experience in finance, lending or venture capital. In making the appointments from targeted technologies, the Governor shall consider recommendations submitted by representatives of targeted technology sectors. Directors of the board appointed by the Governor are entitled to receive reimbursement at the legislative rate for necessary expenses for their attendance at authorized meetings of the board. [PL 2005, c. 425, §19 (AMD).] B. The Commissioner of Economic and Community Development or the commissioner's designee, the President of the Maine Community College System or the president's designee and the Chancellor of the University of Maine System or the chancellor's designee are ex officio voting directors. [PL 1999, c. 541, §1 (AMD); PL 2003, c. 20, Pt. OO, §2 (AMD); PL 2003, c. 20, Pt. OO, §4 (AFF).] C. The Director of the Office of Policy Innovation and the Future or the director's designee is an ex officio nonvoting director. [PL 2025, c. 476, Pt. A, §5 (AMD).] D. The Maine Technology Institute Director is a nonvoting director. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] E. The Commissioner of Energy Resources or the commissioner's designee is an ex officio nonvoting director. [PL 2025, c. 476, Pt. A, §5 (NEW).] [PL 2025, c. 476, Pt. A, §5 (AMD).] 4. Terms. Directors of the board appointed by the Governor are appointed for 3-year terms. The terms of the initial appointments are staggered as follows: Three are one-year terms, 3 are 2-year terms and 3 are 3-year terms. Those directors may serve no more than 2 consecutive terms. Directors who serve on the board by virtue of their offices serve terms coincident with their terms in office. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 5. Chair; vice-chair; secretary; treasurer. The board shall elect a chair, a vice-chair, a secretary and a treasurer from among its members. Each officer serves for a one-year term and is eligible for reelection. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 6. President. The Maine Technology Institute Director at the Department of Economic and Community Development serves as president of the institute upon confirmation by the board. Once every 2 years, the Governor shall submit the Maine Technology Institute Director's name to the board for reappointment. Reappointment is subject to confirmation by the board. The president shall: A. Serve as the liaison between the board and the targeted technology boards; [PL 1999, c. 401, Pt. AAA, §3 (NEW).] B. Manage the institute's programs, services and staff; and [PL 1999, c. 401, Pt. AAA, §3 (NEW).] C. Perform other duties the board considers appropriate. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 7. Quorum. A majority of the voting directors constitutes a quorum. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 8. Executive committee. The board may elect an executive committee of not fewer than 6 members who, in intervals between meetings of the board, may transact such business of the institute as the board may authorize from time to time. [PL 1999, c. 401, Pt. AAA, §3 (NEW).] 9. Annual report. By December 15th of each year, the institute shall provide an annual report, with audited financial reports, on its activities to the joint standing committee or joint select committee of the Legislature having jurisdiction over research and development matters. [PL 2001, c. 562, §1 (AMD).] 10. Independent evaluation. [PL 2009, c. 337, §8 (RP).]
‹ Prev All Maine sections Next ›
Lexace provides legal information, not legal advice, and no attorney–client relationship is created. Statute text is provided for general information and may not reflect the most recent amendments; verify against the official state code.