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Bill > H3721


MA H3721

Relative to avoiding Senior homelessness and maintaining Senior housing-stabilization of rents


summary

Introduced
05/06/2021
In Committee
05/06/2021
Crossed Over
Passed
Dead
12/31/2022

Introduced Session

192nd General Court

Bill Summary

Relative to the stabilization of rents in cities and towns facing distress in the housing market. Housing.

AI Summary

This bill aims to stabilize rents in cities and towns facing housing market distress, with a focus on maintaining housing for seniors. The key provisions are: (1) a limit on annual rent increases of no more than the annual change in the Consumer Price Index or 5%, whichever is less, for rental units occupied by individuals over 60 years old who are on a public housing waitlist, for a term of 5 years; (2) this rent cap applies to all private rental units except owner-occupied buildings with two or fewer units, or units already subject to rent regulation; (3) cities and towns can opt to adopt this rent stabilization measure, which can be renewed after a formal review; and (4) the rent-controlled units are only available to individuals with incomes at or below 80% of the Area Median Income.

Committee Categories

Housing and Urban Affairs

Sponsors (1)

Last Action

Accompanied a study order, see H5204 (on 09/01/2022)

bill text


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