Bill > S983

This bill establishes a Massachusetts Center for Housing Cooperatives within the executive office of housing and livable communities, with a broad mandate to support and promote housing cooperatives across the state. The center will focus on expanding cooperative resident ownership, preserving existing cooperative properties, and increasing the number of such properties, with a specific emphasis on low to moderate income residents. The center's director, who will be a full-time employee appointed by the secretary of housing and livable communities, will have the authority to hire staff, accept gifts and grants, create a dedicated fund, and develop rules and procedures for the center's operations. Additionally, the bill appropriates $100 million in fiscal year 2026 to support housing cooperatives, including funds for acquiring real estate, preserving existing cooperatives, and meeting their capital needs. The funding will be administered through various housing and community development agencies, and the department is required to submit a report within 180 days detailing recommendations for creating and preserving housing cooperatives throughout Massachusetts. The center will also be responsible for conducting research, providing education, promoting cooperative housing benefits, and filing an annual report with the state legislature detailing its activities and an inventory of housing cooperatives in the state.

Housing and Urban Affairs

https://malegislature.gov/Bills/194/S983