Reduces county retention of real estate transfer tax revenue to fund emergency shelter subsidies.

This bill modifies the distribution of real estate transfer tax revenue in Maine. Beginning September 1, 2026, 1% of the tax revenue will be transferred to the Maine State Housing Authority for the shelter operating subsidy program. Starting August 1, 2027, this amount increases to 1.8%. The remaining 8.2% of the tax revenue will be retained by the counties. This change aims to support emergency shelter funding using revenue from the real estate transfer tax.

Reduces county retention of real estate transfer tax revenue to fund emergency shelter subsidies.

This bill modifies the distribution of real estate transfer tax revenue in Maine. Beginning September 1, 2026, 1% of the tax revenue will be transferred to the Maine State Housing Authority for the shelter operating subsidy program. Starting August 1, 2027, this amount increases to 1.8%. The remaining 8.2% of the tax revenue will be retained by the counties. This change aims to support emergency shelter funding using revenue from the real estate transfer tax.