Bill > LD2149

This bill requires individuals or entities renewing licenses to operate manufactured housing communities to provide satisfactory evidence to the Manufactured Housing Board, and it updates how taxable income is calculated by allowing a deduction for gains on the sale of a controlling ownership interest (over 50%) in a property if it's transferred to a cooperative affordable housing corporation, municipal housing authority, or an affiliate of a municipal housing authority, with a deduction limit of $750,000. It also exempts certain entities, including municipal housing authorities and their affiliates, and cooperatives limited to manufactured home owners, from paying a transfer assessment fee when purchasing a manufactured housing community or mobile home park, and clarifies the definition of "affiliated or related entities" and "net worth" for these exemptions, while establishing penalties, including triple damages and license forfeiture, for those who fail to pay the fee or provide false information. Furthermore, the bill shifts the rule-making authority for determining net worth for fee exemptions from the Department of Professional and Financial Regulation to the Maine State Housing Authority, and exempts resident-owned manufactured housing communities from certain requirements.

Housing and Urban Affairs

https://legislature.maine.gov/legis/bills/display_ps.asp?LD=2149&snum=132