Bill > H309

This bill updates Chapter 40R of Massachusetts law to modify financial incentives for cities and towns that create smart growth and starter home zoning districts. The bill establishes a tiered zoning incentive payment system where municipalities receive different levels of funding based on the projected number of new housing units: from $20,000 for up to 20 units to $1,200,000 for 501 or more units. Additionally, cities and towns will receive a one-time density bonus payment of $6,000 per housing unit created in these districts. The bill also requires the department to review these incentive payments periodically to ensure they remain consistent with housing costs as measured by the Consumer Price Index. The changes will take effect for tax years beginning on or after January 1, 2025, and the increased incentives will automatically revert to their original amounts no later than 10 years after enactment. The goal of this legislation is to encourage the development of affordable housing through smart growth and starter home zoning districts by providing financial incentives to municipalities.

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https://malegislature.gov/Bills/194/H309