LD 1540 LR 1790(02)
An Act to Create the Stable Home Fund Program
Fiscal Note for Bill as Amended by Committee Amendment " "
Committee: 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 $15,000,000 $15,000,000 $0 $0
General Fund $15,000,000 $15,000,000 $0 $0
Fiscal Detail and Notes
This bill includes one-time General Fund appropriations of $15,000,000 per year in fiscal year 2023-24 and fiscal year 2024-25 to a newly established Stable Home Fund within the Maine State Housing Authority (MSHA) for a 2-year pilot program designed to provide support for eviction prevention.  The bill authorizes MSHA to delegate the administration of the pilot program to a municipal housing authority, community action agency or other qualified entity and limits the administrative costs that can be paid from the fund to 12% or less of the distributions received from the fund.