Bill > S799

This bill aims to create affordable housing in every community. It provides $500 million for a program of loans or grants to produce affordable housing units, where affordable units are defined as those rented or owned by families and individuals with income up to 50% of the area median income. The bill also establishes a Smart Growth Housing Trust Fund, which will provide competitive grants and incentive payments to municipalities that have increased their share of affordable housing by at least 1% over the past 5 years. Additionally, the bill creates a housing production school cost reimbursement program to provide financial assistance to municipalities with new smart growth and affordable housing developments.

Housing and Urban Affairs

https://malegislature.gov/Bills/191/S799