An Act relative to funding housing and mitigating investor real estate in seasonal communities
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed House
- Passed Senate
- To Governor
- Became Law
Overview
This bill aims to increase affordable housing options and address the growing influence of investors in seasonal communities throughout Massachusetts. It proposes to allocate state funding specifically for the development of new housing units and to implement measures designed to limit the amount of seasonal properties that are purchased by outside investors. The goal is to preserve the character and accessibility of these communities for year-round residents and local workers.
Key provisions
- Allocate state funding for the construction of new housing units in seasonal communities.
- Implement regulations to restrict the purchase of seasonal properties by out-of-state investors.
- Create a fund to support local housing initiatives within seasonal communities.
- Establish a process for assessing the impact of seasonal property ownership on local communities.
- Promote the development of diverse housing types, including affordable options.
Who is affected
- Seasonal community residents
- Local workers in seasonal communities
- Investors in seasonal real estate
- Massachusetts communities with seasonal housing
- The housing market in Massachusetts
Notable changes
- Introduces regulations to limit investor ownership of seasonal properties.
- Directs state funding towards affordable housing development in seasonal areas.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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