MaineMaine housing authority may hold up to $4 billion in certain bonds
Maine’s housing authority may have up to $4 billion in certain mortgage bonds, while a separate bond category has lower yearly and total limits.
What it does
The authority may have up to $4 billion in certain mortgage purchase bonds outstanding. The bonds must be secured by specified reserve funds.
For another category of mortgage purchase bonds, the authority may issue up to $100 million per year, with no more than $300 million outstanding at any time.
Argument forThe bond limit could give the authority room to buy mortgages that help support home loans.
Argument againstThe authority could take on more bond debt, which may make it harder to manage its finances.
More detail
The law allows the Maine State Housing Authority to have up to $4 billion in certain mortgage purchase bonds outstanding. The limit applies to the authority’s mortgage purchase bonds secured by those funds. These bonds must be secured by the Housing Reserve Fund or a Capital Reserve Fund covered by the cited law.
The authority may issue a separate category of mortgage purchase bonds up to the stated limits. This applies to mortgage purchase bonds secured by capital reserve funds not covered by the first limit. The bonds must have the listed backing, such as bond or mortgage insurance, a qualifying federal agreement, or other credit arrangements. The $100 million issuance limit applies per calendar year; the $300 million limit applies to the amount outstanding at any time.
Where do you stand?
Choose your position
Tell your reps
Take a position to see your representatives and ways to contact them.
Where it stands
- Introduced
- Passed 1st Chamber
- Passed 2nd Chamber
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Apr 15Signed by Governor Janet MillsLatest
- Apr 13Subsequently, PASSED TO BE ENACTED in concurrence.Passed 2nd Chamber
- Apr 13On motion by Senator ROTUNDO of Androscoggin taken from the Special Appropriations Table.
- Mar 10On motion by Senator ROTUNDO of Androscoggin PLACED ON THE SPECIAL APPROPRIATIONS TABLE pending ENACTMENT in concurrence.
- Mar 5Sent for concurrence. ORDERED SENT FORTHWITH.
- Mar 5PASSED TO BE ENACTED.Became Law
- Mar 3In concurrence. ORDERED SENT FORTHWITH.
- Mar 3The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (S-501).Minor
- Mar 3Under suspension of the rules CONSENT CALENDAR - SECOND DAY.
- Mar 3CONSENT CALENDAR - FIRST DAY
- Feb 26Ordered sent down forthwith for concurrence.
- Feb 26READ A SECOND TIME and PASSED TO BE ENGROSSED AS AMENDED BY Committee Amendment "A" (S-501)Minor
- Feb 26COMMITTEE ON BILLS IN THE SECOND READING REPORTS NO FURTHER VERBAL AMENDMENTS NECESSARY. REPORT ACCEPTED.
- Feb 24ASSIGNED FOR SECOND READING NEXT LEGISLATIVE DAY.
- Vote recorded ACCEPT REPORT. Result: pass.Upper
- Feb 24Committee Amendment "A" (S-501) READ and ADOPTED.Minor
- Feb 24Bill READ ONCEMinor
- Feb 24Roll Call Ordered Roll Call Number 722 Yeas 16 - Nays 15 - Excused 4 - Absent 0
- Feb 24ACCEPTANCE of the OUGHT TO PASS AS AMENDED Report PREVAILED
- Feb 24Report READ.
- Feb 13Reported Out - OTP-AM
- Jan 27Voted - OTP-AM
- Jan 27Work Session Held
- Jan 7In concurrence. ORDERED SENT FORTHWITH.
- Jan 7The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT.Minor
- Jan 7Committee on HOUSING AND ECONOMIC DEVELOPMENT suggested and ordered printed REFERENCE to the Committee on HOUSING AND ECONOMIC DEVELOPMENT Ordered sent down forthwith for concurrenceIntroduced
Housing