ME LD1924

Creates a 5-year Maine income tax exemption (January 1, 2026 through December 31, 2031) for gains from the sale or lease of new residential housing intended for occupancy by the purchaser or lessee

Applies to both resident individuals and corporations selling or leasing qualifying new residential housing in Maine

Defines "new residential housing" as a residential unit where at least half of the square footage has not been occupied in the 12 months prior to sale or lease

Covers single-family homes, multi-unit residential housing, mobile homes, and manufactured housing

Tax exemption continues for each property until the original purchaser or lessee no longer occupies the unit, or December 31, 2031, whichever occurs first