Maine

Maine State Senate President Kevin Raye (R-Perry) and Senator Doug Thomas (R-Ripley) recently succeeded in passing an amendment to the state’s FY 2013 budget which increases the individual tax credit cap for the state’s New Markets Capital Investment Program (NMCIP) program from $10 million to $40 million.

The Internal Revenue Service (IRS) published Revenue Service 2011-57 which dictates the amounts of unused housing credit carryover allowances allocated to qualified states. Nearly $3.66 million of unused credits were divided among the states in the National Pool.

Maine’s Blue Ribbon Commission on Affordable Housing had its inaugural meeting in Augusta last week to plot out a course of action to address Maine’s crisis in low-income housing.

MaineHousing has released a proposed draft copy of its 2012 Qualified Allocation Plan (QAP).

MaineHousing has announced that it will hold a series of public forums to develop the State’s 2012 Consolidated Plan.

he Maine State Senate has approved Governor John Baldacci’s nomination of Dale McCormick to serve a second four-year term as Director of MaineHousing, the state’s administrator of the low-income housing tax credit program.

U.S. Department of Housing and Urban Development Secretary Shaun Donovan has announced the selection of Richard Walega as HUD’s new Regional Director for New England, which comprises Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island and Vermont.

The Maine State Housing Authority has released the proposed Qualified Allocation Plan (QAP) for administering the allocation of the state’s 2010 and 2011 annual ceiling of the low-income housing tax credits (LIHTC).

The Obama Administration recently announced nine more individuals who will serve as their State’s Director of Rural Development at the U.S. Department of Agriculture (USDA). The directors will work with USDA to help manage over 40 programs that USDA’s Rural Development administers to provide affordable housing and improve the economic stability for rural communities across the country.

The U.S. Treasury Department recently announced over $90 million in funding awards to five states through the Section 1602 Exchange Program created by the American Recovery and Reinvestment Act (ARRA).

The Maine State Housing Authority has released guidance on the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act (ARRA).

The Maine State Housing Authority has released guidance on the Section 1602 Tax Credit Exchange Program, provided by the American Recovery and Reinvestment Act (ARRA).