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ME LD1783
Bill
Status
6/3/2025
Primary Sponsor
Suzanne Salisbury
Click for details
AI Summary
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Program duration now explicitly "starts and ends" during tax years specified by municipal approval, clarifying previous ambiguous "may start" language
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Maximum program duration capped at the earlier of: 30 years after the tax year housing is placed in service (evidenced by certificate of occupancy), or 35 years after district designation approval
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Municipal legislative bodies may delegate annual reporting requirements to a municipal officer when initially designating the affordable housing development district
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Annual reports must certify public purpose is being met, account for property sales within the district, and certify rental units have remained affordable
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Signed into law as Public Law Chapter 252 on June 10, 2025
Legislative Description
An Act to Clarify Municipal Affordable Housing Tax Increment Financing
Tax Increment Financing
Last Action
PASSED TO BE ENACTED, in concurrence.
6/3/2025