Extends the sunset date of the Affordable Housing Income Tax Credit in Maine.

This bill amends the Maine Revised Statutes to extend the sunset date of the Affordable Housing Income Tax Credit. The credit, which was initially set to expire on December 31, 2028, will now remain in effect beyond that date. The total allocation for the credit may not exceed $10,000,000 per calendar year, with a maximum of $15,000,000 available in any given year. Additionally, no more than 20% of the credits allocated in any calendar year may be used for qualified rural development preservation projects.

Extends the sunset date of the Affordable Housing Income Tax Credit in Maine.

This bill amends the Maine Revised Statutes to extend the sunset date of the Affordable Housing Income Tax Credit. The credit, which was initially set to expire on December 31, 2028, will now remain in effect beyond that date. The total allocation for the credit may not exceed $10,000,000 per calendar year, with a maximum of $15,000,000 available in any given year. Additionally, no more than 20% of the credits allocated in any calendar year may be used for qualified rural development preservation projects.