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Maine State LIHTC Proposed for Bond-Financed Properties

Wednesday, May 3, 2017 - 9:45AM

A bill to establish a state low-income housing tax credit (LIHTC) for Maine was introduced in the state Senate and sent to the Joint Taxation Committee for consideration. L.D. 1461 would create a Maine LIHTC worth up to the amount of the federal LIHTC for properties financed with tax-exempt bonds, taken over six years. An annual statewide cap would be set at $42 million, plus any unallocated credits or recaptured credits. If approved, the Maine state LIHTC would take effect Jan. 1, 2018. The legislation does not set a sunset date for the proposed credit. 

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