An Act To Create The Stable Home Fund Program

This bill establishes a two-year pilot program to help prevent evictions by providing rental assistance to eligible low-income tenants. The program offers up to $300 per month in aid paid directly to landlords for a maximum of 12 months, targeting individuals earning less than 60% of the local median income who are not currently using federal housing vouchers. The Maine State Housing Authority will manage the fund, which is financed by a $15 million appropriation from the state's General Fund for each of the two years, and may delegate administration to community agencies or municipal housing authorities. To ensure accountability, the authority must submit a report to the Legislature by February 2025 detailing how many people received assistance and where the aid was distributed. The legislation includes an emergency clause, allowing it to take effect immediately upon approval due to the urgent nature of the housing crisis.