Maine LD2127 raises the bond cap for the Maine State Housing Authority from $3 billion to $4 billion.

Maine LD2127 amends the cap on mortgage purchase bonds issued by the Maine State Housing Authority, increasing it from $3 billion to $4 billion. This change aims to better reflect current housing production needs in the state. The authority can issue bonds secured by the Housing Reserve Fund or a Capital Reserve Fund up to the new cap of $4 billion. Other bonds, such as those secured by capital reserve funds not covered by specific sections, bond or mortgage insurance, or credit arrangements, can still be issued up to $100 million per year.

Maine LD2127 raises the bond cap for the Maine State Housing Authority from $3 billion to $4 billion.

Maine LD2127 amends the cap on mortgage purchase bonds issued by the Maine State Housing Authority, increasing it from $3 billion to $4 billion. This change aims to better reflect current housing production needs in the state. The authority can issue bonds secured by the Housing Reserve Fund or a Capital Reserve Fund up to the new cap of $4 billion. Other bonds, such as those secured by capital reserve funds not covered by specific sections, bond or mortgage insurance, or credit arrangements, can still be issued up to $100 million per year.