This bill:
1. Requires the Maine State Housing Authority to administer a program to provide grants of up to $15,000 to persons with low income and moderate income for the purpose of decreasing the rate of a mortgage loan used to purchase an owner-occupied single-family residence. Current law allows the authority to refinance existing loans for the purpose of lowering mortgage payments or making home improvements for persons with low income; and
2. Allows a taxpayer an income tax deduction for payments made to purchase private mortgage insurance for that taxpayer's primary residence located in Maine.

Statutes affected:
Bill Text LD 2077, HP 1392: 30-A.4722