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LD2057 • 2025

An Act to Support Rehabilitation and Development of Affordable Housing

An Act to Support Rehabilitation and Development of Affordable Housing

Housing
Enacted

This bill passed the Legislature and reached final enactment based on the latest official action.

Sponsor
Senator Glenn Curry
Last action
2026-04-03
Official status
Signed by the Governor
Effective date
Not listed

Plain English Breakdown

Using official source text because the generated explanation was unavailable or could not be confirmed against the official bill text.

An Act to Support Rehabilitation and Development of Affordable Housing

An Act to Support Rehabilitation and Development of Affordable Housing Sponsor: Senator Glenn Curry Reference committee: Housing and Economic Development Governor action: Signed by the Governor

What This Bill Does

  • An Act to Support Rehabilitation and Development of Affordable Housing Sponsor: Senator Glenn Curry Reference committee: Housing and Economic Development Governor action: Signed by the Governor

Limits and Unknowns

  • This entry is temporarily using official source text because the generated explanation could not be confirmed against the official bill text during the last sync.

Amendments

These notes stay tied to the official amendment files and metadata from the legislature.

Adopted by House & Senate

Plain English: Page 1 - 132LR2896(02) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR2896(02) COMMITTEE AMENDMENT 1 L.D.
  • 2057 2 Date: (Filing No.
  • S- ) 3HOUSING AND ECONOMIC DEVELOPMENT 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8SECOND REGULAR SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.
Filed

Plain English: Page 1 - 132LR2896(03) COMMITTEE AMENDMENT 1 L.D.

  • Page 1 - 132LR2896(03) COMMITTEE AMENDMENT 1 L.D.
  • 2057 2 Date: (Filing No.
  • S- ) 3HOUSING AND ECONOMIC DEVELOPMENT 4 Reproduced and distributed under the direction of the Secretary of the Senate.
  • 5STATE OF MAINE 6SENATE 7132ND LEGISLATURE 8SECOND REGULAR SESSION 9 COMMITTEE AMENDMENT “ ” to S.P.

Bill History

  1. 2026-04-03 Governor

    Signed by the Governor

  2. 2026-03-30 Senate

    PASSED TO BE ENACTED , in concurrence.

  3. 2026-03-26 House

    PASSED TO BE ENACTED . Sent for concurrence. ORDERED SENT FORTHWITH.

  4. 2026-03-23 Committee

    Reported Out; OTP-AM/OTP-AM

  5. 2026-03-03 Committee

    Work Session Reconsidered

  6. 2026-03-03 Committee

    Voted; Divided Report

  7. 2026-01-27 Committee

    Work Session Held

  8. 2026-01-27 Committee

    Voted; Divided Report

  9. 2026-01-20 Committee

    Work Session Held; TABLED

  10. 2025-12-15 Committee

    Referred to Committee on Housing and Economic Development.

Official Summary Text

An Act to Support Rehabilitation and Development of Affordable Housing
Sponsor:
Senator Glenn Curry
Reference committee:
Housing and Economic Development
Governor action:
Signed by the Governor

Current Bill Text

Read the full stored bill text 
Page 1 - 132LR2896(04)
STATE OF MAINE
_____
IN THE YEAR OF OUR LORD
TWO THOUSAND TWENTY-SIX
_____
S.P. 844 - L.D. 2057
An Act to Support Rehabilitation and Development of Affordable Housing
Be it enacted by the People of the State of Maine as follows:
Sec. 1. 30-A MRSA §4832, as amended by PL 2017, c. 234, §27, is further amended
to read:
§4832. Construction loans
The Maine State Housing Authority may participate with financial institutions in the
State in the making of make construction loans for the purpose of land development and
the construction of housing units or housing projects for persons of low income, to support
programs authorized under this chapter and under any terms and conditions that the Maine
State Housing Authority may establish by rule.
1. Participation requirements. Except as provided in paragraphs A and B, the Maine
State Housing Authority may not participate in the making of construction loans unless a
financial institution in the State agrees to participate in the loan at least to the extent of
acting as escrow agent. Notwithstanding any other provisions of law, financial institutions
in the State may act as required by this subchapter.
A. The Maine State Housing Authority may make construction loans to state public
bodies or other public instrumentalities and private nonprofit corporations without the
participation of a financial institution.
B. If a project's financing requires that the Maine State Housing Authority participate
in the construction loan at a level greater than 60%, the Maine State Housing Authority
may make the whole construction loan without using an escrow agent.
2. Rules. The Maine State Housing Authority shall establish rules in accordance with
the Maine Administrative Procedure Act, Title 5, chapter 375, governing, without
limitation, the following subjects and procedures for participating in the making of
construction loans:
A. The submission, review and acceptance of requests from borrowers for construction
loans under this section;
B. Qualifications of borrowers;
APPROVED
APRIL 3, 2026
BY GOVERNOR
CHAPTER
614
PUBLIC LAW
Page 2 - 132LR2896(04)
C. Limitation on and standards for location and construction of housing units or
housing projects;
D. Schedules of fees and other charges made by the authority and the financial
institution to the borrower in accepting, reviewing and acting upon applications for
construction loans under this subchapter; and
E. Restrictions on the interest rates charged by the financial institutions and the
authority on the construction loans or the return on those loans to be realized by the a
financial institution, if the authority participates with a financial institution in making
the construction loan.
Sec. 2. 30-A MRSA §4833, as amended by PL 2023, c. 218, §2, is repealed.