HD 1526 creates a new tax deduction for resident shareholders in Massachusetts housing cooperatives. The deduction applies to shareholders who lived in their cooperative unit for the entire tax year and did not claim a federal deduction for real estate taxes or mortgage interest. This provision specifically targets housing cooperatives organized under Chapter 156B or Chapter 157 of the General Laws. The bill directly benefits qualifying cooperative residents by providing a state-level tax break.
HD 1422 would allow all Massachusetts towns and cities to use Tax Increment Financing (TIF) to incentivize housing projects, specifically targeting residential rehabilitation and commercial building conversions. The bill requires the Economic Assistance and Community Capital (EACC) to designate eligible areas based on criteria like job creation, business growth, or rehabilitating neglected buildings. Municipalities must get EACC approval for TIF agreements before they can take effect, ensuring projects align with state goals of boosting housing supply and economic resilience. This change removes previous restrictions, making TIF available statewide for qualifying housing and commercial conversion projects.
HD 3296 creates a refundable tax credit for Massachusetts first-time homebuyers who use capital gains from selling investments to cover their down payment. The credit amount equals the lesser of the capital gains tax owed on the sale or the down payment amount, directly benefiting eligible buyers. To qualify, the capital funds must be liquidated within 60 days before the property transfer. This bill specifically affects Massachusetts residents who haven't owned a home in the past three years and use investment proceeds for a primary residence down payment.
This bill increases the deleading credit for rental property owners from $3,000 to $15,000 under Section 6(e) of Chapter 62. It directly affects rental property owners who remediate lead paint hazards in their units. The key provision is a simple monetary adjustment to the existing credit amount, making the remediation cost more affordable. The change applies to all qualifying rental housing units requiring lead paint removal. This is a straightforward funding adjustment with no additional requirements or new mechanisms.
HD 4088 provides tax incentives for corporations and individuals renovating abandoned buildings into housing projects. It allows a 10% deduction of renovation costs when calculating taxable income for qualifying projects. For housing developments, the bill exempts either the sale profits or rental income from taxable income for five years if units are rented out. These provisions apply specifically to projects certified under Chapter 23A and defined as "abandoned buildings" under Chapter 200A.
By Mr. Cyr, a petition (accompanied by bill, Senate, No. 1955) of Julian Cyr for legislation to establish the Martha’s Vineyard housing bank. Revenue.
This bill exempts municipalities ordered by the state housing agency (DHCD) or federal authorities to provide emergency shelters for more than 10 homeless individuals from Chapter 40B housing regulations for at least five years. It specifically relieves them from meeting the requirement to provide affordable housing units (currently 10% of new projects). The exemption applies only when shelters are established under government order for emergency homeless populations. This directly affects towns and cities mandated to house larger groups of homeless residents during crises.
HD 158 limits how far in advance landlords can require new lease signings. It prohibits landlords or their agents from asking tenants to sign a lease more than three months before their current lease ends. This directly affects renters in residential properties by preventing long-term binding agreements before their current term concludes. The key provision enforces a clear 90-day maximum window for signing new leases, giving renters more flexibility and control over their housing contracts.
By Representatives Cruz of Salem and Bowen of Beverly, a petition (subject to Joint Rule 12) of Manny Cruz, Hannah Bowen and John Francis Moran for legislation to expand access to the family self-sufficiency program. Housing.
By Representative Finn of West Springfield, a petition (accompanied by bill, House, No. 1501) of Michael J. Finn for legislation to improve municipal equity within the emergency assistance shelter program. Housing.
