Maine legislation · 132nd Legislature
Maine LD1238: An Act to Establish a Small-cap Loan Guarantee Program for Affordable Housing Investments
Status: Failed, May 27, 2025
What the bill says
An Act to Establish a Small-cap Loan Guarantee Program for Affordable Housing Investments Reference to the Committee on Housing and Economic Development suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative ARCHER of Saco. Cosponsored by Senator BRADSTREET of Kennebec and Representatives: GERE of Kennebunkport, JULIA of Waterville, MACIAS of Topsham. Printed on recycled paper.
From the engrossed text:
An Act to Establish a Small-cap Loan Guarantee Program for Affordable Housing Investments Reference to the Committee on Housing and Economic Development suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative ARCHER of Saco. Cosponsored by Senator BRADSTREET of Kennebec and Representatives: GERE of Kennebunkport, JULIA of Waterville, MACIAS of Topsham. Printed on recycled paper Be it enacted by the People of the State of Maine as follows: Sec. 1. 30-A MRSA §4834 is enacted to read: §4834. Small-cap Loan Guarantee Program 1. Definitions. As used in this section, unless the context otherwise indicates, the following terms have the following meanings. A. "Administrator" means the Maine State Housing Authority or an organization contracted by the Maine State Housing Authority to administer the program. B. "Affordable housing" means a housing unit that is affordable to a household with an income at or below 80% of the area median income, as defined by the United States Department of Housing and Urban Development. C. "Loan guarantee" means the State's promise to repay a portion or all of a loan made to a participant if the participant defaults. D. "Low-income housing" means a housing unit that is specifically designed to serve a household with an income at or below 60% of the area median income, as defined by the United States Department …
Sponsors
- Marshall Archer (D, 129) · primary sponsor
- Richard Bradstreet (R, 15)
- Traci Gere (D, 134)
- Cassie Julia (D, 65)
- Rafael Macias (D, 51)
Latest actions
- : Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD)
- : The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT in concurrence
- : Committee on Housing and Economic Development suggested and ordered printed. The Bill was REFERRED to the Committee on HOUSING AND ECONOMIC DEVELOPMENT.Sent for concurrence. ORDERED SENT FORTHWITH.
Subjects: Legislature, HOUSING, LOAN PROGRAM, Senate, Other, ASSISTANCE
Common questions
- What is LD1238?
- LD1238 is a bill in the Maine Legislature (132nd Legislature): An Act to Establish a Small-cap Loan Guarantee Program for Affordable Housing Investments.
- What does LD1238 do?
- In its own words: An Act to Establish a Small-cap Loan Guarantee Program for Affordable Housing Investments Reference to the Committee on Housing and Economic Development suggested and ordered printed. ROBERT B. HUNT Clerk Presented by Representative ARCHER of Saco. Cosponsored by Senator BRADSTREET of Kennebec and Representatives: GERE of Kennebunkport, JULIA of Waterville, MACIAS of Topsham. Printed on recycled paper.
- What is the status of LD1238?
- Failed as of May 27, 2025. Latest action: Pursuant to Joint Rule 310.3 Placed in Legislative Files (DEAD) (May 27, 2025).
- Who sponsored LD1238?
- Marshall Archer (D, 129), with 4 co-sponsors.
- Where is the official record for LD1238?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1238&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.