MaineProposal would seek housing bonds and set homebuyer income limits
The proposal would let Maine issue housing bonds if voters approve and direct the Housing Authority to set a higher homebuyer income limit in most counties.
What it does
Maine could issue up to $10 million in bonds to help finance workforce housing in opportunity zones, if voters approve the bond issue.
The Authority would set the program's homebuyer income limit at 150% of area median income in counties outside Cumberland, Sagadahoc, and York.
Argument forIf voters approve the bonds, the money could help finance workforce housing, while a higher income limit could let more homebuyers qualify in most counties.
Argument againstState backed bonds could leave Maine responsible for repaying borrowed money and interest, even if the housing projects do not bring in enough funds.
More detail
Maine could issue up to $10 million in bonds for workforce housing. The Maine State Housing Authority would use the money to finance workforce housing in the state's opportunity zones. Voters must approve the bond issue before these provisions take effect. The bond provisions would take effect 30 days after the Governor proclaims voter approval. Bonds could not run longer than 10 years.
The Maine State Housing Authority would change the program's homebuyer income limit from 120% to 150% of area median income. The proposed limit would apply in every county except Cumberland, Sagadahoc, and York. The Authority could adopt rules requiring a project to use funds from other sources.
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Where it stands
- Introduced
- Died
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 29Died in Possession of the Committee Upon Conclusion of the 132nd Legislature and PLACED IN THE LEGISLATIVE FILES (DEAD).Died
- 2025
- Jun 25Carry Over Approved
- Jun 25CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
- Apr 1In concurrence. ORDERED SENT FORTHWITH.
- Apr 1The Bill was REFERRED to the Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS.Minor
- Apr 1Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS suggested and ordered printed REFERENCE to the Committee on APPROPRIATIONS AND FINANCIAL AFFAIRS Ordered sent down forthwith for concurrenceIntroduced
HousingTaxes & Budget