An Act to establish a surcharge on specific residential development activities for the purpose of funding the creation of community housing
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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 authorizes the town of Lexington, Massachusetts, to impose a surcharge on certain residential development activities. The revenue generated from this surcharge will be used specifically to fund the creation of community housing within the town. This allows Lexington to supplement existing funding sources for affordable housing initiatives. The bill was approved by the town of Lexington and subsequently referred to the Joint Committee on Revenue in the Massachusetts legislature.
Key provisions
- Authorizes Lexington to levy a surcharge.
- Specifies that the surcharge applies to certain residential development activities.
- Designates the purpose of the surcharge as funding community housing.
- Requires revenue generated to be used for community housing creation.
Who is affected
- Developers of residential properties in Lexington
- Homeowners in Lexington
- The town of Lexington
- Potential residents of community housing
Notable changes
- Creates a new revenue stream for community housing in Lexington.
- Provides Lexington with additional funding options for affordable housing.
Fiscal impact
The fiscal impact of this bill is dependent on the amount of the surcharge and the volume of residential development activity in Lexington.
Bill text
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Sponsors
Official sponsors from legislative records.
3 on record
Primary sponsor
Cosponsors
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