Bill
Bill > S1795
MA S1795
Providing a local option incentivizing landlords to rent unsubsidized properties at below market rent (good landlord tax credit)
summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to provide a local option incentivizing landlords to rent unsubsidized properties at below market rent (good landlord tax credit). Revenue.
AI Summary
This bill provides a local option incentivizing landlords to rent unsubsidized properties at below market rent, known as the "good landlord tax credit." Specifically, it allows resident owners of qualified 2- to 4-unit residential rental properties to claim a tax credit for the difference between the maximum HOME rent limit and the amount charged to qualified tenants (low-income persons, seniors, and families with small children), up to $2,000 per unit for up to 6 units. Additionally, municipalities can exempt qualified residential rental properties from property taxation, up to the difference between the maximum HOME rent limit and the pro rata amount of rent per unit. This is intended to encourage landlords to offer more affordable housing options.
Committee Categories
Budget and Finance
Sponsors (7)
Lydia Edwards (D)*,
Julian Cyr (D),
Sal DiDomenico (D),
Mike Moore (D),
Patrick O'Connor (R),
Bruce Tarr (R),
Jeff Turco (D),
Last Action
Accompanied a study order, see H5045 (on 09/12/2024)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S1795 |
| BillText | https://malegislature.gov/Bills/193/S1795.pdf |
Loading...