An Act To Change the Exclusion Amount under the Estate Tax and Provide Additional Funding for the Housing Opportunities for Maine Fund
Maine Legislature, Session 130, LD 1704
Committee Amendment CA_A_H853 (House)
Amends: 36 MRSA §4120

COMMITTEE AMENDMENT" 4,, to H.P. 1267, L.D. 1704, "An Act To Change 
the Exclusion Amount under the Estate Tax and Provide Additional Funding for the 
Housing Opportunities for Maine Fund" 
Amend the bill by striking out the title and substituting the following: 
'An Act To Require a Portion of Estate Tax Revenue To Be Transferred to the 
Housing Opportunities for Maine Fund for the Creation of New Affordable Housing 
for Low-income Households' 
Amend the bill by striking out everything after the enacting clause and inserting the 
following: 
'Sec. 1. 36 MRSA §4120 is enacted to read: 
§4120. Distribution of revenue; fiscal years 2024 to 2030 
For fiscal years 2024 to 2030. on a monthly basis. the Treasurer of State shall credit 
50% of the revenues generated under this chapter to the Maine State Housing Authority. 
The Maine State Housing Authority shall deposit the funds received pursuant to this section 
in the Housing Opportunities for Maine Fund established in Title 30-A. section 4853 and 
shall use the funds transferred under this section to support the creation of new housing 
units, through new construction or adaptive reuse. that are affordable to low-income 
households. The Treasurer of State shall credit the remaining revenues generated under 
this chapter to the General Fund.' 
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section 
number to read consecutively. 
SUMMARY 
This amendment removes from the bill provisions making changes to estate tax 
exclusion amounts. It also changes the proposed amount of revenue credited to the Housing 
Opportunities for Maine Fund to 50% of the revenue generated under the estate tax under 
Page l - 130LR1805(02) 
COMMITTEE AMENDMENT 
COMMITTEE AMENDMENT ,ff, to H.P. 1267, L.D. 1704 
current law and requires that the revenue be used for the creation of new housing units, 
through new construction or adaptive reuse, that are affordable to low-income households. 
FISCAL NOTE REQUIRED 
(See attached) 
COMMITTEE AMENDMENT 
Approved: 03/19/22 ~ae 
LD 1704 
LR 1805(02) 
An Act To Change the Exclusion Amount under the Estate Tax and Provide Additional Funding for 
the Housing Opportunities for Maine Fund 
Fiscal Note for Bill as Amended by Committee Amendment '/f {f/<f:55) 
Committee: Taxation 
Net Cost (Savings) 
General Fund 
Appropriations/ Allocations 
Other Special Revenue Funds 
Revenue 
General Fund 
Other Special Revenue Funds 
Fiscal Detail and Notes 
Fiscal Note Required: Yes 
Fiscal Note 
FY 2021-22 
FY2022-23 
Projections 
FY 2023-24 
Projections 
FY 2024-25 
$0 
$0 
$0 
$0 
$0 
$12,500,000 
$12,975,000 
$0 
$12,500,000 
$12,975,000 
$0 
($12,500,000) 
($12,975,000) 
$0 
$12,500,000 
$12,975,000 
This bill requires that, for fiscal years 2023-24 through fiscal year 2029-30, 50% of the revenue generated from the 
estate tax be credited to the Housing Opportunities for Maine (HOME) Fund within the Maine State Housing 
Authority to be used for the creation of new housing units which are affordable to low-income households. This 
provision will result in a reduction in General Fund revenue of $12,500,000 in fiscal year 2023-24 and $12,975,000 in 
fiscal year 2024-25 and a corresponding increase in revenue to the HOME Fund. 
LRl 805(02) - Fiscal Note - Page 1 of 1