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132nd MAINE LEGISLATURE |
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LD 1486 |
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LR 2384(01) |
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An Act to Provide
Financing Assistance for Down Payments for First-generation Homeowners |
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Preliminary Fiscal
Impact Statement for Original Bill |
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Sponsor: Rep. Yusuf of Portland |
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Committee: Housing and Economic Development |
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Fiscal Note Required: Yes |
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| Preliminary
Fiscal Impact Statement |
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FY 2025-26 |
FY 2026-27 |
Projections FY 2027-28 |
Projections FY 2028-29 |
| Net Cost
(Savings) |
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General Fund |
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$10,000,000 |
$10,000,000 |
$10,000,000 |
$10,000,000 |
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| Appropriations/Allocations |
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General Fund |
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$10,000,000 |
$10,000,000 |
$10,000,000 |
$10,000,000 |
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| Fiscal Detail
and Notes |
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This bill includes
ongoing General Fund appropriations of $10.0 million per year beginning in
fiscal year 2025-26 to the Maine State Housing Authority to establish and
administer the First-generation Homeowner Down Payment Assistance Program
created to provide down payment assistance in the form of a loan to
first-generation homeowners. |
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