| Sec. 5. Tax credit financing. By October 1, 2003, the Maine State |
Housing Authority shall file a request with the Internal Revenue |
Service for a private letter ruling regarding compliance with |
applicable provisions of Section 42 of the federal Internal |
Revenue Code and regulations promulgated under that section for |
the housing component of assisted living programs as such |
compliance pertains to rulemaking by the Department of Human |
Services for assisted living programs. In developing the |
request, the Maine State Housing Authority shall consult with the |
Department of Human Services, providers of assisted living |
programs that utilize financing based on low-income housing tax |
credits and representatives of lenders and investors in |
affordable assisted living programs financed by low-income |
housing tax credits. Within 3 months of receiving guidance from |
the Internal Revenue Service, the Maine State Housing Authority |
and the Department of Human Services shall report to the joint |
standing committee of the Legislature having jurisdiction over |
health and human services matters regarding that guidance and any |
recommendations for legislation or rulemaking. |