Bill > LD2149

This bill aims to protect affordability in mobile home parks and manufactured housing communities by defining "controlling interest" as more than 50% ownership in a corporation or other entity, and by establishing new definitions for the purchase and sale of these communities. It amends existing laws to require license renewals for manufactured housing communities and mobile home parks, and it modifies the transfer assessment fee, which is $10,000 per lot, by clarifying when it's due and expanding exemptions to include family transfers and entities with a net worth under $75 million, while also introducing a sworn affirmation process for claiming these exemptions through the Maine State Housing Authority. The bill also adds penalties for non-compliance, including treble damages and license forfeiture, and directs collected fees to a preservation and assistance fund. Additionally, it introduces a capital gains tax deduction for the sale of qualified businesses or properties that provide housing and are transferred to specific affordable housing entities, with a limit of $750,000 per sale, and clarifies that "qualified property" includes mobile home parks and manufactured housing communities. Finally, it allows the Maine State Housing Authority to use a portion of the fund for administrative costs and to adopt rules regarding net worth determinations for exemptions.

Housing and Urban Affairs

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