Maine Enacts Affordable Housing Tax Credit
In January, Maine Governor Janet Mills signed a bill establishing a Maine affordable housing tax credit (AHTC). The Maine State Housing Authority will be tasked with administering and allocating $80 million of credits to affordable rental housing developers between 2021 and 2028, with up to $10 million allocated each year. The program would also leverage an equal amount of federal low-income housing tax credit dollars.
The law aims to create nearly 1,000 additional affordable housing units over eight years and double the current rate of new affordable housing production in Maine.