Authorizes a $100,000,000 bond issue for Maine State Housing Authority programs.
The bill authorizes a $100,000,000 bond issue to fund Maine State Housing Authority programs, including rural rentals, low-income housing tax credit, affordable homeownership, and home repairs. Twenty percent of the funding is allocated to the rural affordable housing rental program. The bond proceeds must be expended within five years, with unexpended balances lapsing to the Office of the Treasurer of State for general obligation bond retirement. The issuance of bonds is contingent upon ratification by a majority vote in a statewide election.
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