H 1489
An Act creating the tenant’s escrow accounts
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- Passed House
- Passed Senate
- To Governor
- Became Law
Bill overview
This bill establishes a tenant’s escrow account program to help rental tenants save money for a down payment on a home. The program would require landlords to contribute a portion of the tenant’s rent to an escrow account, which the tenant could then use for a down payment. This initiative aims to increase homeownership opportunities for renters in Massachusetts.
Key provisions
- Landlords must contribute a percentage of tenant rent to an escrow account.
- Tenants can use escrow funds for a down payment on a home.
- The program would be administered by the state.
- Specific contribution percentages and account details would be determined through legislation.
- The bill aims to support first-time homebuyers.
- The program is intended to assist low- and moderate-income renters.
Who is affected
- Rental Tenants
- Landlords
- First-time Homebuyers
- Massachusetts Residents
Notable changes
- This bill introduces a new mechanism for assisting renters in saving for homeownership.
- It establishes a state-sponsored escrow program, a novel approach in Massachusetts.
Sponsors
Official sponsors from legislative records.
Primary sponsor
David F. DeCoste
Cosponsors
David F. DeCoste
Arguments in favor
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Bill H.1489 194th (Current)
An Act creating the tenant’s escrow accounts
By Representative DeCoste of Norwell, a petition (accompanied by bill, House, No. 1489) of David F. DeCoste for legislation to establish a savings program to assist rental tenants in the purchase of a home. Housing.
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Bill Information
Bill Information
Presenter: David F. DeCoste
Tabs
Bill History Petitioners Committee Vote Committee Summary Hearing Attendance
Bill History
Displaying 5 actions for Bill H.1489
| Date | Branch | Action |
| 2/27/2025 | House | Referred to the committee on Housing |
| 2/27/2025 | Senate | Senate concurred |
| 11/7/2025 | Joint | Hearing scheduled for 11/19/2025 from 11:00 AM-05:00 PM in Gardner Auditorium |
| House | Reported by committee to Clerk’s Office for processing, will accompany a study order | |
| 4/13/2026 | House | Accompanied a study order, see H5352 (under House Rule 27) |
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