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ME LD1657
ME LD1657An Act to Expand the Use of Tax Increment Revenue for Affordable Housing by Adding Authorized Project Costs
summary
Introduced
04/15/2025
04/15/2025
In Committee
04/15/2025
04/15/2025
Crossed Over
06/10/2025
06/10/2025
Passed
Dead
06/12/2025
06/12/2025
Introduced Session
132nd Legislature
Bill Summary
This bill expands the use of tax increment revenue for affordable housing by adding authorized project costs, including costs for the development, sale, purchase, financial support and operation of affordable housing and for the creation, maintenance and administration of a municipal loan or grant program to provide assistance to qualifying purchasers of affordable housing.
AI Summary
This bill expands the use of tax increment financing (TIF) revenue for affordable housing by adding several new authorized project costs and activities. Specifically, the bill allows municipalities to use TIF funds for the development, sale, purchase, improvement, and financial support of housing, including costs outside of designated affordable housing districts. The legislation introduces new provisions that permit municipalities to create loan or grant programs to assist qualifying purchasers of affordable housing, with the condition that these housing efforts support economic development and workforce recruitment and retention. The bill broadens the scope of what can be considered an authorized project cost, including operating costs, property management, administration, utilities, repairs, maintenance, insurance, and real estate taxes related to housing projects. Importantly, the bill removes previous restrictions that required affordable housing projects to be located within specific districts, giving municipalities more flexibility in using tax increment revenue to address housing challenges and support local economic development efforts.
Committee Categories
Budget and Finance
Sponsors (8)
Amy Kuhn (D)*,
Dan Ankeles (D),
Traci Gere (D),
Adam Lee (D),
Anne-Marie Mastraccio (D),
Kelly Noonan Murphy (D),
Dani O'Halloran (D),
Melanie Sachs (D),
Last Action
Died Between Houses, Jun 12, 2025 (on 06/12/2025)
bill text
bill summary
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bill summary
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bill summary
Document Type | Source Location |
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State Bill Page | https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1657&snum=132 |
Fiscal Note: Text | https://legislature.maine.gov/legis/bills/bills_132nd/fiscalpdfs/FN165701.pdf |
BillText | https://legislature.maine.gov/legis/bills/getPDF.asp?paper=HP1098&item=1&snum=132 |
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