An Act to Reduce the
Maine Legislature, Session 132, LD 2077
Committee Amendment CA_A_H935 (House)

COMMITTEE AMENDMENT " ^ " to H.P. 1392, L.D. 2077, "An Act to Reduce the
Cost of Purchasing a Home by Providing Grants to Reduce Mortgage Rates"
Amend the bill in section 3 in paragraph II in the 3rd line (page 1, line 35 in L.D.) by
inserting after the following: "residence" the following: 'or bemg applied as a down
payment on a loan for die purc^ residence'
Amend the bill by striking out all of section 4 and inserting the following:
'See. 4. Appropriations and allocations. The following appropriations and
allocations are made.
HOUSING AUTHORITY, MAINE STATE
Housing Authority - State 0442
Initiative: Provides funding to the Maine State Housing Authority to administer a program
that provides a grant of up to $15,000 per home purchase for the purchase of an owner-
occupied single-family residence by a qualifying person.
GENERAL FUND 2025-26 2026-27
AllOther $0 $20,250,000
GENERAL FUND TOTAL $0 $20,250,000
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, requires the Maine
State Housing Authority to administer a program to provide a grant of up to $15,000 per
home purchase for the purpose of reducing the mortgage interest rate of a loan or being
applied as a down payment on a loan for the purchase of an owner-occupied smgle-family
COMMITTEE AMENDMENT
COMMnTEE AMENDMENT " H" to H.P. 1392, L.D. 2077
residence by a person whose income at the time of the grant is no greater than the income
limits for qualified first-time home buyers established under 26 United States Code, Section
143. The amendment also removes the provision of the bill that makes private mortgage
insurance payments for a primary residence tax deductible. The amendment also adds an
appropriations and allocations section.
FISCAL NOTE REQIHRED
(See attached)
Page2-132LR2884(02)
COMMITTEE AMENDMENT
Revised; 03/18/26 i-RL
LD 2077 LR 2884(02)
An Act to Reduce the Cost of Purchasing a Home by Providing Grants to Reduce Mortgage Rates
Fiscal Note for Bill as Amended by Committee Amendment '/-f' / |-f—(
/ I
Committee: Housing and Economic Development
Fiscal Note Required: Yes
Fiscal Note
Projections Projections
FY 2025-26 FY 2026-27 FY 2027-28 FY 2028-29
Net Cost (Savings)
General Fund $0 $20,250,000 $20,250,000 $20,250,000
- xppropriations/Allocations
General Fund $0 $20,250,000 $20,250,000 $20,250,000
Fiscal Detail and Notes
The bill includes ongoing General Fund appropriations to the Maine State Housing Authority (MSHA) totaling
$20,250,000 starting in FY 2026-27 to provide grant funding to qualified home buyers as required by this bill. In
2026, MSHA is projected to purchase 1,350 mortgages, each of which would qualify for the grant as provided in the
bill, which does not impose any additional restrictions or limitations on who may qualify for the grant, This fiscal note
assumes that the number of mortgages qualifying for the grant program will not change in subsequent years.
Additional costs to administer the grant program can be absorbed by MSHA within existing resources.
LR2884(02) - Fiscal Note - Page 1 of 1