Maine Provides Income Tax Deduction for Gains on Sales to Affordable Housing Entities

The Maine Governor signed a law that creates a state income tax deduction capped at $750,000 for gains on the sale of certain housing property transferred to cooperative affordable housing corporations or municipal housing authorities. The law also expands exemptions from existing transfer assessment fees on mobile home park and manufactured housing community transactions. The law takes effect 90 days after the end of the legislative session. [S.P. 867, enacted 04/13/26]

This story was produced by Bloomberg Tax Automation, and edited by Bloomberg Tax staff.