Gere introduces bill to expand sales tax exemption for nonprofit housing developers
AUGUSTA - Rep. Traci Gere, D-Kennebunkport, presented LD 1732, An Act To Amend the Sales Tax Exemption for Nonprofit Housing Development Organizations, before the Legislature's Taxation Committee on Tuesday. The bill would expand the exemption to allow nonprofit developers to serve households with incomes up to 120% of the area median income, an increase from the current threshold of 80%, as defined by the U.S. Department of Housing and Urban Development.