Bill
Bill > H2969
MA H2969
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
Relative to providing for a local option tax credit for certain landlords. Revenue.
AI Summary
This bill proposes to create a local option tax credit for certain landlords in Massachusetts. It would allow owners of unsubsidized 2- to 4-unit residential rental properties to claim a tax credit for the difference between the maximum HOME rent limit for the participating jurisdiction and the amount of rent charged, up to $2,000 per qualified rental unit for up to 6 units. The credit is available to landlords renting to "qualified tenants," which includes low-income persons of protected classes, seniors, and families with small children. Additionally, the bill allows municipalities to exempt qualified residential rental properties from property taxation, with the exemption limited to a percentage of the difference between the maximum HOME rent limit and the pro rata amount of rent per unit.
Committee Categories
Budget and Finance
Sponsors (3)
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/H2969 |
| BillText | https://malegislature.gov/Bills/193/H2969.pdf |
Loading...