Bill > S895

This bill aims to promote sustainable affordable housing in several ways: 1. It adds a definition of "mixed use development" to allow for projects with a mix of residential and non-residential uses, and clarifies that such mixed-use developments are consistent with local needs under the state's affordable housing law. 2. It expands the definition of "SHI Eligible Housing" to include manufactured homes, assisted living units, and elderly housing units, which will enable more types of affordable housing to count towards a municipality's affordable housing requirements. 3. It provides tax credits to corporations that develop affordable housing in economically distressed areas, with additional credits for higher percentages of affordable units. 4. It gives municipalities a right of first refusal to purchase affordable housing units that owners are seeking to sell, including in cases of foreclosure or short-sale, in order to preserve the affordability of those units. 5. It requires new affordable housing developments in nitrogen-sensitive areas to connect to sewer systems rather than use septic systems, and establishes grant programs to help wastewater treatment plants accommodate such developments. 6. It creates a loan program to help owners of existing affordable housing upgrade septic systems or transition to sewer systems. 7. It directs the state to develop a pilot program for intergenerational affordable housing, where older homeowners can provide housing to younger individuals or families in exchange for services or rent. 8. It expands the definition of "low or moderate income household" to allow for higher income limits in certain high-cost regions, and provides tax credits for seasonal employers and affordable housing contractors to offset housing costs for their workers. 9. It imposes a 5% excise tax on short-term rental operators, with the revenue directed to municipal affordable housing trust funds. Overall, the bill takes a multi-pronged approach to increasing the supply and preserving the affordability of housing across the state.

Housing and Urban Affairs

https://malegislature.gov/Bills/193/S895