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Bill > H1308


MA H1308

Relative to excess profits resulting from 40B developments


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the penalty for withholding low income housing development excess profits. Housing.

AI Summary

This bill amends Section 21 of Chapter 40B of the Massachusetts General Laws to impose a 5-year ban on any public agency or limited dividend or nonprofit organization that is convicted of fraudulently withholding excess profits from a city or town from constructing additional developments under Chapter 40B or Chapter 40R. The purpose of this bill is to penalize entities that improperly retain profits from affordable housing projects in the state.

Committee Categories

Housing and Urban Affairs

Sponsors (5)

Last Action

Accompanied a study order, see H4975 (on 09/28/2020)

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