Bill > H1500

This bill addresses several modifications to the Massachusetts Housing Finance Agency (MHFA) by making three key changes. First, the bill expands the composition of the agency's board by adding two new members: an individual with affordable housing expertise appointed by the senate president, and a labor union representative with housing expertise appointed by the speaker of the house of representatives. Second, the bill establishes a term limit for the agency's director, specifying that the director can serve for no more than 8 years. Third, the bill creates a special commission of three members (appointed by the Governor, senate president, and house speaker) to conduct a comprehensive performance review of MHFA over its last five fiscal years, with a specific focus on affordable and low-income housing development in gateway cities. The commission is required to file a report with recommendations within one year of starting the review, aimed at helping MHFA generate more affordable housing in these economically significant urban areas. These changes seek to enhance the agency's governance, leadership stability, and strategic approach to addressing housing affordability challenges.

Budget and Finance, Housing and Urban Affairs

https://malegislature.gov/Bills/194/H1500