Maine Revised Statutes Title 22 Sec. 5405 – Maine Health Insurance Marketplace Trust Fund
Current as of: 2023 | Check for updates
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1. Establishment. The Maine Health Insurance Marketplace Trust Fund is established as a special fund within the State Treasury for the deposit of any funds generated by user fees, any funds secured by the commissioner for marketplace functions, federal funds and any funds received from any public or private source. The marketplace trust fund must be administered by the commissioner for the purposes set forth in this chapter, including the deposit of money that may be received pursuant to and disbursements permitted by this chapter.
[PL 2019, c. 653, Pt. A, §1 (NEW).]
Terms Used In Maine Revised Statutes Title 22 Sec. 5405
- Commissioner: means the Commissioner of Health and Human Services. See Maine Revised Statutes Title 22 Sec. 1-A
- Marketplace: means the Maine Health Insurance Marketplace established by this chapter. See Maine Revised Statutes Title 22 Sec. 5402
- Marketplace trust fund: means the Maine Health Insurance Marketplace Trust Fund established by this chapter. See Maine Revised Statutes Title 22 Sec. 5402
- User fees: Fees charged to users of goods or services provided by the government. In levying or authorizing these fees, the legislature determines whether the revenue should go into the treasury or should be available to the agency providing the goods or services.
- Year: means a calendar year, unless otherwise expressed. See Maine Revised Statutes Title 1 Sec. 72
2. Deposit and use of money. Money deposited into the marketplace trust fund must be held solely for the purposes set forth in this chapter as determined by the commissioner, including but not limited to costs of initial start-up and creation of the marketplace, marketplace operations, outreach, enrollment and other functions supporting the marketplace, including any efforts that may increase market stabilization and that may result in a net benefit to the participants in the marketplace. All interest earned from the investment or deposit of money in the marketplace trust fund must be deposited into the marketplace trust fund. All accrued and future earnings from money held by the marketplace trust fund, including but not limited to money obtained from the Federal Government and fees, must be available to the marketplace. Any unexpended balance in the marketplace trust fund at the end of a year may not lapse and must be carried forward to be available for expenditure by the commissioner in the subsequent year for marketplace functions.
[PL 2019, c. 653, Pt. A, §1 (NEW).]
SECTION HISTORY
PL 2019, c. 653, Pt. A, §1 (NEW).