AUGUSTA — The Legislature's Criminal Justice and Public Safety Committee unanimously advanced legislation on Wednesday proposed by Rep. Dan Sayre, D-Kennebunk, aimed at helping incarcerated Mainers build their credit scores before their release.
Working with the Maine Department of Corrections (DOC), Midcoast Federal Credit Union had sought to extend their existing credit-builder loan program to incarcerated people but came up against a barrier in the law: the principal of the loan was subject to automatic deductions by the DOC, even though recipients would still be required to pay back the full loan amount.
LD 97 eliminates that barrier by exempting credit-builder loans from those fees, allowing individuals to more easily work towards building a solid credit score. A good credit history is essential to securing necessities like housing, transportation and employment, all of which are fundamental to reintegrating into civilian life.
“The mission of Maine’s Department of Corrections is ‘empowering change and restoring lives.’ That means ensuring that people leave incarceration ready to reenter society as productive citizens,” said Sayre. “A good credit score helps formerly incarcerated citizens become supportive, contributing members to both their families and their communities.”
After receiving unanimous, bipartisan approval in committee, the bill faces further votes in the full House and Senate.
Rep. Dan Sayre is serving his second term in the Maine Legislature and represents House District 135, which includes part of Kennebunk. He serves on the Legislature’s Taxation Committee.
Contact:
Brian Lee (Sayre) | 305-965-2744