An Act adjusting the area median income
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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 adjusts how area median income (AMI) is calculated for cities and towns in Massachusetts with populations over 100,000. Currently, AMI is determined using statewide data, which may not accurately reflect the economic realities of these larger municipalities. The bill aims to improve the accuracy of AMI calculations by considering local data, potentially leading to more precise assessments of housing affordability and related programs. It is part of a series of legislative efforts to refine AMI methodologies.
Key provisions
- Adjusts the calculation of area median income.
- Specifically targets municipalities with populations over 100,000.
- Likely involves using local data to refine AMI estimates.
- Part of a series of bills addressing AMI methodologies.
- Referenced a study order (H4778)
Who is affected
- Municipalities in Massachusetts with populations over 100,000
- Residents of those municipalities
- Housing assistance programs
- Community development organizations
- State government agencies responsible for housing and economic development
Notable changes
- Shifts from statewide AMI calculations to incorporating local data.
- Addresses potential inaccuracies in current AMI methodologies for large cities and towns.
Bill text
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Sponsors
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3 on record
Primary sponsor
Cosponsors
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