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
In Committee
02/16/2023
Crossed Over
Passed
Dead
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)

bill text


bill summary

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bill summary

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bill summary

Document Type Source Location
State Bill Page https://malegislature.gov/Bills/193/H2969
BillText https://malegislature.gov/Bills/193/H2969.pdf
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