ME LD2057

Maine State Housing Authority gains authority to make construction loans directly to privately owned or cooperative-owned manufactured housing communities and mobile home parks for rehabilitating existing sites or developing additional home sites

Removes the previous requirement that MSHA participate in construction loans at greater than 60% before waiving escrow agent requirements

Allows MSHA to make whole construction loans without an escrow agent when issuing tax-exempt bonds to generate automatic federal low-income housing tax credits under IRC Section 42(h)(4)

Amends 30-A MRSA §4832 to expand existing exceptions that previously only applied to state public bodies, public instrumentalities, and private nonprofit corporations