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ME LD1424
Bill
Status
4/1/2025
Primary Sponsor
Matthea Larsen Daughtry
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AI Summary
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Authorizes $10,000,000 in general obligation bonds to finance workforce housing construction in opportunity zones established under the federal Tax Cuts and Jobs Act of 2017
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Maine State Housing Authority would administer the bond proceeds through its Affordable Homeownership Program
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Raises homebuyer income eligibility from 120% to 150% of area median income in all Maine counties except Cumberland, Sagadahoc, and York
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Bonds require voter approval through a statewide referendum in November following passage, with a maximum 10-year term
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Unissued bonds are deauthorized after 5 years unless the Legislature grants an extension of up to 5 additional years
Legislative Description
An Act to Authorize a General Fund Bond Issue for Investment in Workforce Housing and Raise Certain Income Eligibility Limits in the Affordable Homeownership Program
Housing
Last Action
CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
6/25/2025