An Act To Promote Investment In Housing

132nd Legislature (2025-2026) Introduced by Traci Gere

LD 916 aims to boost investment in Maine housing to spur production and affordability; however, the bill's specific incentives and fiscal impact are not yet defined.

Signed by Governor

#construction #housing #investments

LD 916 — An Act To Promote Investment In Housing

Overview

LD 916 is a proposed Maine statute titled “An Act To Promote Investment In Housing.” Introduced on March 5, 2025, the bill is categorized under construction, housing, and investments. The sponsor is Rep. Gere of Kennebunkport, and it was referred to the Committee on Housing and Economic Development. The bill’s substantive provisions are not included in the materials provided, so specific mechanisms (e.g., tax incentives, financing programs, regulatory changes) are not described here.

Purpose and Intent

The stated objective, based on the title and subject matter, is to promote investment in housing in Maine. The exact means by which the bill would encourage investment (policy tools, funding sources, or regulatory changes) are not detailed in the accessible documents.

Key Provisions (Substantive Content Not Available)

The provided documents do not include the bill’s text. Therefore, precise provisions, such as targeted incentives, program design, eligibility criteria, funding levels, or administrative mechanisms, cannot be enumerated from the available material.

The bill falls within the subjects of construction, housing, and investments, suggesting potential alignment with housing production, affordability, or investment climate, but specifics are not disclosed.

Who Would Be Affected

Likely stakeholders include housing developers, investors, lenders, housing program administrators, and tenants or potential residents depending on the bill’s provisions.

Without the text, the exact beneficiaries or affected parties remain to be determined by the bill’s eventual language.

Fiscal Impact (from Fiscal Note)

The Fiscal Note is labeled a Preliminary Fiscal Impact Statement for the original bill and indicates a “Concept Draft” with “Insufficient Data.”

No fiscal note was required at this stage.

Approved March 11, 2025, the note (LR 2227(01)) suggests that, at present, the financial impact is not quantified in the available documents.

Procedural Timeline and Status

March 5, 2025: Introduced and referred to the Committee on Housing and Economic Development; ordered printed.

March 21, 2025: Carried over, in the same posture, to the next special or regular session per Joint Order SP 519.

May 16, 2025: Work session held; bill was tabled.

May 19, 2025: Carry over requested and carry over approved.

June 25, 2025: Carried over, in the same posture, to any special or regular session of the 132nd Legislature per Joint Order SP 800.

The bill remains active but in a held status, pending action in a future session.

Next Steps

To understand the bill’s actual impact, the full text and any subsequent fiscal analyses would need to be reviewed once new legislative action occurs (e.g., reintroduction or continuation in a special or regular session).