An Act to Support
Maine Legislature, Session 132, LD 2057
Committee Amendment CA_A_S575 (Senate)
Amends: 30-A MRSA §4832, 30-A MRSA §4833

COMMITTEE AMENDMENT " A " to S,P. 844, L.D. 2057, "An Act to Support
Rehabilitation and Development of Affordable Manufactured Housing Communities"
Amend the bill by striking out the title and substituting the following;
'An Act to Support Rehabilitation and Development of Affordable Housing'
Amend the bill by striking out everything after the enacting clause and mserting the
following:
'See. 1. 30-A MRSA §4832, as amended by PL 2017, c. 234, §27, is farther
amended to read:
§4832. Construction loans
The Maine State Housing Authority may participate with financial institutions in the
State in the making of make construction loans for the purpose of land development and
the conotruotion of housing units or housing projocta for persons of low income, to support
programs authorized under this chapter and under any terms and conditions that the Maine
State Housing Authority may establish by rule.
1. Pnrticipution requirements. Except as provided in-paragrapho A and B, the Maine
State Hoy&ing Authority may not participate in the maldng of- construction loans unless a
fmanoial institution in the State agrees to participate in the loan at -least to the extent of
acting as oscrow agent. Notwiths^onding any other provisions oflaw,fmanoial institutions
tn the- State may act as required by this subehaptcr.
A. The Maine State Housing Authority may make construction loans to state public
bodies or other public inotrumentaUties and private nonprofit corporations without the
participation of a financial institution.
B. If a project's fmancing requires thaNhe-Malne State Housing Authority participate
m the construction loan at a level greater than 60%, the Maine State Housing Authority
may make the whole oonstroction loan without using an escrow agent,
COMMITTEE AMENDMENT
COMMITTEE AMENDMENT "^ " to S.P, 844, L,D. 2057(^5- ^'] S\
2. Rules. The Maine State Housing Authority shall establish rules in accordance with
the Maine Administrative Procedure Act, Title 5, chapter 375, governing, without
limitation, the following subjects and procedures for participating in the making of
construction loans;
A. The submission, review and acceptance of requests from borrowers for construction
loans under this section;
B, Qualifications of borrowers;
C. Limitation on and standards for location and construction of housing units or
housing projects;
D. Schedules of fees and other charges made by the authority and the finonoial
mstitution to the borrower in accepting, reviewing and acting upon applications for
construction loans under this subchapter; and
E. Restrictions on the interest rates charged by ^as financial institutions and the
authority on the construction loans or the return on those loans to be realized by tite a
fmancial institutionJjf the authority Darticroates with a fmancial institution to makine
the construction loan.
Sec. 2. 30-A MRSA §4833, as amended by PL 2023,c.218,§2, is repealed.'
Amend the bill by relettering or renumbering any nonconsecutive Part letter or section
number to read consecutively.
SUMMARY
This amendment, which is the majority report of the committee, replaces the bill and
changes the title, It removes the requirement in statute that the Maine State Housing
Authority only make construction loans if a financial institution in the State agrees to
participate in the loan, at least to the extent of acting as an escrow agent. It allows the
Maine State Housing Authority to make construction loans to support programs authorized
under the Maine Revised Statutes, Title 30-A, chapter 201. It also repeals the provision of
law setting different bonding requirements and limitations to bonds issued by the Maine
State Housing Authority for construction loans.
FISCAL NOTE REQUIRED
(See attached)
Page2-U2LR2896(02)
COMMITTEE AMENDMENT
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•. ' .-"
Revised: 03/19/26 f-K^-
LD 2057 LR 2896(02)
An Act to Support Rehabilitation and Development of Affordable Manufactured Housing
Communities
Fiscal Note for Bill as Amended by Committee Amendment 1^"(!S''-0^)
Committee: Housing and Economic Development
Fiscal Note Required: Yes
Fiscal Note
Minor cost mcrease - Other Special Revenue Funds
Minor savings - Other Special Revenue Funds
Fiscal Detail and Notes
Any additional costs to the Maine State Housing Authority (M5HA) to implement the provisions of this bill are
expected to be minor and can be absorbed withm existmg budgeted resources. The bill may also generate minor
savings for the MSHA to the extent that it enables the MSHA to make loans with fewer overhead costs.
LR2896(02) - Fiscal Note - Page 1 of 1