AUGUSTA – On Wednesday, Rep. Ambureen Rana, D-Bangor, introduced a measure before the Legislature’s Taxation Committee to build more affordable housing in Maine by making the Low Income Housing Tax Credit permanent.
The credit was first created by the Legislature in 2019 to incentivize the development of affordable rental housing by investing $80 million over eight years. Under current law, the credit is set to expire on Dec. 31, 2028. LD 2116 would remove the sunset provision.
“The rising cost of living is hurting families across Maine, and nowhere is this problem more glaring than when trying to find an affordable place to live,” said Rana. “Too many Mainers are living month-to-month or even day-to-day, wondering how they’re going to pay rent and keep a roof over their heads. Making the Low Income Housing Tax Credit permanent will allow us to continue addressing the housing shortage, particularly for working families, seniors and rural communities.”
According to the Governor’s Office of Policy Innovation and the Future, the credit has been used successfully to create or preserve nearly 1,000 affordable homes in Maine since its creation.
In 2024, MaineHousing reported that the program's credits helped finance five housing development projects, resulting in the construction of almost 200 units.
The Taxation Committee will hold a work session on the bill in the coming weeks.
Rana is serving her second term in the Maine House and represents House District 21, which includes part of Bangor. She serves on the Legislature's Appropriations and Financial Affairs Committee.
Contact:
Brian Lee (Rana) | 305-965-2744