ME LD435

Increases the small project historic rehabilitation tax credit from 25% to 30% of qualified expenditures and raises the expenditure cap from $250,000 to $1,000,000 for projects not claiming federal credits

Creates a new tax credit for exterior rehabilitation and weatherization of certified historic homes, equal to 25% of qualified expenditures (minimum $5,000), with a maximum credit of $50,000 per home over 5 years, available to taxpayers with income at or below $120,000

Raises the affordable housing bonus credit to 35% for significant projects and 45% for small projects; the new historic homes credit increases to 30% (up to $60,000 max) when housing is created or a unit is rented to households at or below area median income

Increases the maximum tax credit for certified historic structure projects from $5 million per year to $10 million total for the first two years combined, with $5 million maximum in subsequent years, effective January 1, 2025

Removes the December 31, 2030 deadline for project certification and changes the Maine Historic Preservation Commission's legislative reporting requirement from biennial to every 5 years