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 funding for housing, particularly in seasonal communities, and to address the growing influence of investors in these areas. It seeks to create more affordable housing options and limit the extent to which investors can purchase and control properties within seasonal communities. The legislation intends to stabilize housing markets and ensure that seasonal communities remain accessible to residents rather than solely catering to investment purposes.
Key provisions
- Provides funding for the development of affordable housing units in seasonal communities.
- Imposes restrictions on the types of properties investors can purchase in these communities.
- Establishes guidelines for managing seasonal rental properties to prevent speculation.
- Supports programs that assist existing residents in maintaining their homes.
- Encourages the creation of community land trusts in seasonal areas.
Who is affected
- Seasonal community residents
- Investors in seasonal real estate
- Local governments in seasonal communities
- Housing developers
- The Massachusetts housing market
Notable changes
- Limits the ability of investors to purchase large numbers of seasonal properties.
- Prioritizes housing affordability within seasonal communities.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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