Code of Maine Rules
99 - INDEPENDENT AGENCIES
346 - MAINE STATE HOUSING AUTHORITY
Chapter 31 - AFFORDABLE HOUSING DEVELOPMENT DISTRICT - RECOVERY OF PUBLIC REVENUE


Current through 2024-38, September 18, 2024

Summary: Subject to the satisfaction of certain conditions and the approval of the Maine State Housing Authority, municipalities may create affordable housing development districts within their corporate limits. A municipality that creates an affordable housing development district benefits from the use of increased property values relating to the district without any offsets to the municipality's State revenue sharing and education subsidies or increase in county taxes. In the event that an affordable housing development district fails to continue satisfying conditions of its creation, this rule provides for the recovery of public revenue resulting from these beneficial tax shifts.

STATUTORY AUTHORITY: 30-A M.R.S.A. §§5250-E. 2, 4741.1.

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