LD 2116

APPROVED  CHAPTER
  APRIL 15, 2026  699
  BY GOVERNOR  PUBLIC LAW
  STATE OF MAINE
  _____
  IN THE YEAR OF OUR LORD
  TWO THOUSAND TWENTY-SIX
  _____
  H.P. 1431 - L.D. 2116
  An Act to Extend the Sunset Date of the Affordable Housing Income Tax
  Credit
Be it enacted by the People of the State of Maine as follows:
   Sec. 1. 36 MRSA §5219-WW, sub-§3, as enacted by PL 2019, c. 555, §6, is
amended to read:
    3. Maximum credit; carry-forward. The total credit amount available pursuant to
this section and section 2534 to be allocated by the authority for each calendar year
beginning on or after January 1, 2021 and ending on or before December 31, 2028 2036 is
subject to the following limitations.
   A. The total allocation may not exceed $10,000,000. Any portion of that amount not
   allocated in a calendar year may be carried forward and available to be allocated in
   subsequent calendar years, except that:
       (1) Any previously allocated credits returned to the authority, excluding any
       credits recaptured under subsection 7, must be added to that amount; and
       (2) The authority may not allocate more than $15,000,000 in any calendar year.
   B. No more than 20% of credits allocated in any calendar year may be allocated under
   subsection 2, paragraph B.
   C. Ten percent of credits first available to be allocated in any calendar year must be
   set aside to be allocated for the purpose of qualified rural development preservation
   projects pursuant to subsection 2, paragraph B. Any portion of the amount under this
   paragraph not allocated in a calendar year must be carried forward and be available to
   be allocated in subsequent calendar years for the purpose of qualified rural
   development preservation projects. To the extent that any amounts set aside under this
   paragraph are not allocated on or before December 31, 2028 2036, those amounts may
   be allocated by the authority without regard to whether the project is a qualified rural
   development preservation project.
   D. Only those credits that have been carried forward or returned, excluding any credits
   recaptured under subsection 7, as described in this subsection may be allocated by the
   authority after December 31, 2028 2036.
  Page 1 - 132LR2737(03)