An Act To Encourage New Residential Housing Through A Tax Exemption For The Sale Or Rental Of Such Housing

This bill creates a tax exemption for Maine income tax on gains from selling or leasing "new residential housing" in Maine, effective January 1, 2026, through December 31, 2031. It directly affects sellers and lessors (including individuals and corporations) of qualifying housing units. A unit qualifies as "new" if at least half its square footage has not been occupied in the prior 12 months, covering single-family homes, multi-unit buildings, mobile homes, and manufactured housing. The exemption applies to the tax year the unit is first occupied and continues until the unit is vacated or the end of 2031, whichever comes first.