An Act To Authorize A General Fund Bond Issue To Secure Prosperity For Maine Families And Businesses

LD 483 authorizes Maine to issue $300 million in state bonds, pending voter approval, to fund specific programs. The funds will be allocated as $125 million for the Maine State Housing Authority’s affordable housing tax credits, rural rental programs, and first-time homebuyer assistance, plus $175 million for new child care-public school partnerships (covering 100% of costs for children up to age 4) and residential water/sewer expansions (requiring 50% local matching funds). This bill directly affects low-income families accessing housing, parents seeking childcare, and homeowners in residential areas benefiting from infrastructure upgrades. The bonds must be repaid within 10 years, with unspent funds after that period used to retire other state debt.