Maine legislation · 132nd Legislature
Maine LD1901: An Act to Regulate Shared Appreciation Agreements Relating to Residential Property
Status: Signed into law, April 13, 2026
What the bill says
An Act to Regulate Shared Appreciation Agreements Relating to Residential Property Emergency preamble.
From the engrossed text:
An Act to Regulate Shared Appreciation Agreements Relating to Residential Property Emergency preamble. Whereas, acts and resolves of the Legislature do not become effective until 90 days after adjournment unless enacted as emergencies; and Whereas, shared appreciation mortgage loans are a new form of equity-based financing; and Whereas, this legislation enacts statutory provisions to regulate shared appreciation mortgage loans as mortgage loans and directs the Department of Professional and Financial Regulation, Bureau of Consumer Credit Protection to enforce those provisions; and Whereas, immediate enactment of this legislation is necessary for the protection of consumers; and Whereas, in the judgment of the Legislature, these facts create an emergency within the meaning of the Constitution of Maine and require the following legislation as immediately necessary for the preservation of the public peace, health and safety; now, therefore, PART A Sec. A-1. 9-A MRSA §1-110, sub-§3, as enacted by PL 1981, c. 218, is amended to read: 3. First lien mortgages Mortgages on real estate granted by a creditor subject to licensing by the administrator as set out in section 2‐301. Sec. A-2. 9-A MRSA §1-301, sub-§14, ¶D is enacted to read: D. "Consumer loan" includes a shared appreciation mortgage loan. Sec. A-3. 9-A MRSA §1-301, sub-§17, as amended by PL 2021, c. 245, Pt. A, §2, is further amended by amending the …
Sponsors
- Arthur Bell (D, 103) · primary sponsor
- Poppy Arford (D, 101)
- William Bridgeo (D, 60)
- Dylan Pugh (D, 114)
- Eleanor Sato (D, 109)
- Denise Tepler (D, 24)
Latest actions
- : PASSED TO BE ENACTED - Emergency - 2/3 Elected Required, in concurrence.
- : This being an emergency measure, a two-thirds vote of all the members elected to the House was necessary.PASSED TO BE ENACTED.Sent for concurrence. ORDERED SENT FORTHWITH.
- : Reports READ Senator BAILEY of York moved to ACCEPT The Majority Ought to Pass As Amended by Committee Amendment "A" (H-952) Report in concurrence. On motion by Senator STEWART of Aroostook Tabled until Later in Today's Session, pending Motion by Senator BAILEY of York to ACCEPT The Majority Ought to Pass As Amended by Committee Amendment "A" (H-952) in concurrence. Taken from the table by the President Subsequently, the Senate ACCEPTED The Majority Ought to Pass As Amended by Committee Amendmen
- : Reports READ.On motion of Representative MATHIESON of Kittery, the Majority Ought to Pass as Amended Report was ACCEPTED.The Bill was READ ONCE.Committee Amendment "A" (H-952) was READ and ADOPTED.Under suspension of the rules, the Bill was given its SECOND READING without REFERENCE to the Committee on Bills in the Second Reading.The Bill was PASSED TO BE ENGROSSED as Amended by Committee Amendment "A" (H-952). Sent for concurrence. ORDERED SENT FORTHWITH.
- : Carried over, in the same posture, to any special or regular session of the 132nd Legislature, pursuant to Joint Order SP 800.
- : Received by the Clerk of the House on May 1, 2025.The Bill was REFERRED to the Committee on HEALTH COVERAGE, INSURANCE AND FINANCIAL SERVICES pursuant to Joint Rule 308.2 and ordered printed pursuant to Joint Rule 401.
Subjects: COOPERATIVES, Legislature, REAL ESTATE, SHARED APPRECIATION AGREEMENTS, Senate, Other
Common questions
- What is LD1901?
- LD1901 is a bill in the Maine Legislature (132nd Legislature): An Act to Regulate Shared Appreciation Agreements Relating to Residential Property.
- What does LD1901 do?
- In its own words: An Act to Regulate Shared Appreciation Agreements Relating to Residential Property Emergency preamble.
- What is the status of LD1901?
- Signed into law as of April 13, 2026. Latest action: PASSED TO BE ENACTED - Emergency - 2/3 Elected Required, in concurrence. (April 7, 2026).
- Who sponsored LD1901?
- Arthur Bell (D, 103), with 5 co-sponsors.
- Where is the official record for LD1901?
- On the Maine Legislature website: https://legislature.maine.gov/legis/bills/display_ps.asp?LD=1901&snum=132
Source: official Maine record. Tracked by Delilah, AI for legislation across all 50 states and Congress.