An Act for Chapter 40B reform and improvement
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Progress
Where this bill stands in the legislative process.
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Overview
This bill seeks to reform and improve Chapter 40B, a state-sponsored affordable housing program in Massachusetts. Chapter 40B allows developers to receive state tax credits in exchange for building affordable housing units. The bill aims to address concerns about the program's effectiveness, potential for abuse, and impact on local communities. It intends to create more equitable and sustainable affordable housing options.
Key provisions
- Addresses concerns about the program's financial sustainability.
- May include provisions related to the allocation of tax credits.
- Could modify the requirements for developers to participate in the Chapter 40B program.
- Potentially includes measures to ensure affordable housing units remain affordable over time.
- May address issues related to local government oversight and participation.
- Could establish a process for reviewing and updating Chapter 40B regulations.
- May include provisions related to the types of housing projects eligible for Chapter 40B funding.
Who is affected
- Homeowners
- Renters
- Developers
- Housing Providers
- Massachusetts Residents
Notable changes
- The bill could alter the criteria for qualifying housing projects under Chapter 40B.
- It may introduce new regulations regarding the long-term affordability of units.
Bill text
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Sponsors
Official sponsors from legislative records.
2 on record
Primary sponsor
Cosponsor
Vincent Dixon
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