LD 1107 LR 1084(02)
Resolve, to Establish a Pilot Project to Improve Access to Credit for Low-income Individuals
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: Labor and Housing
Fiscal Note Required: Yes
Fiscal Note
FY 2023-24 FY 2024-25 Projections  FY 2025-26 Projections  FY 2026-27
Net Cost (Savings)
General Fund $250,000 $0 $0 $0
General Fund $250,000 $0 $0 $0
Other Special Revenue Funds $500 $500 $0 $0
Fiscal Detail and Notes
This bill includes a one-time General Fund appropriation of $250,000 in fiscal year 2023-24 to the Rent Payment Reporting Pilot Project within the Maine State Housing Authority (MSHA) for contracting services and subscription fees necessary to implement and administer a 2-year pilot project to collect and report tenant rent payment histories to appropriate credit reporting agencies with the purpose of improving the credit ratings of low-income residential tenants.  This bill also includes Other Special Revenue Funds base allocations of $500 in fiscal year 2023-24 and $500 in fiscal year 2024-25 to the pilot project program to authorize the expenditure of funds in the event money is received from grants and other private contributions to support the 2-year pilot project.