Bill > H3104

This bill modifies existing law to allow assisted living programs to become eligible for Tax Increment Financing (TIF), a economic development tool where municipalities can offer tax breaks or incentives to encourage business growth and job creation. Specifically, the legislation enables assisted living programs to apply for TIF funding through the Economic Assistance Coordinating Council, which will provide municipalities with the flexibility to offer targeted financial incentives to these programs. By making assisted living programs eligible for TIF, the bill aims to stimulate development in the senior care sector and potentially create new jobs in communities. This change represents a broadening of traditional TIF uses, which have typically been applied to manufacturing, commercial, or industrial development projects.

Budget and Finance

https://malegislature.gov/Bills/194/H3104