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LD 435

An Act To Expand The Historic Property Rehabilitation Tax Credit

132nd Legislature (2025-2026) Introduced by Tavis Hasenfus and 1 co-sponsor

LD 435: An Act To Expand The Historic Property Rehabilitation Tax Credit OverviewBill Number: LD 435 Title: An Act To Expand The Historic Property Rehabilitation Tax Credit Statu

Died in Possession of the Senate when the Legislature adjourned Sine Die and was PLACED IN THE LEGISLATIVE FILES. (DEAD)
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Bill Summary · LD 435

LD 435: An Act To Expand The Historic Property Rehabilitation Tax Credit

Overview

Bill Number: LD 435
Title: An Act To Expand The Historic Property Rehabilitation Tax Credit
Status: CARRIED OVER, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
Introduced: February 04, 2025

Purpose and Intent

The primary goal of LD 435 is to expand the existing Historic Property Rehabilitation Tax Credit program in order to incentivize more investment in the preservation and restoration of historic buildings and structures across the state. The bill's sponsors argue that strengthening this tax credit will help revitalize downtowns, promote heritage tourism, and support sustainable development.

Key Provisions

  • Increases the maximum tax credit amount from $5,000 to $10,000 per project
  • Expands eligibility to include properties listed on the National Register of Historic Places, in addition to those designated as historic by the state
  • Allows the tax credit to be claimed for multiple projects on the same historic property over time
  • Extends the sunset date of the tax credit program from 2025 to 2030

Affected Parties and Impacts

  • Owners of historic properties, who would have greater financial incentive to undertake rehabilitation and restoration projects
  • Developers and construction firms specializing in historic preservation work, who could see increased demand for their services
  • State and local governments, which may benefit from increased economic activity, property values, and tax revenues in historic districts
  • Heritage tourism industry, which could see growth as more historic sites are preserved and restored

Procedural and Timeline Considerations

LD 435 was introduced in the 131st Maine Legislature and has been carried over to the 132nd Legislature, meaning it will be considered in the next regular or special session. The bill must pass both the Maine House and Senate and be signed by the Governor to become law. If enacted, the expanded tax credit program would take effect starting in the 2026 tax year.

Compiled from official sources — confirm details with the bill’s official record.

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