Bill > H3029

This bill allows cities, towns, and political subdivisions in the commonwealth to provide property tax credits to rental property owners who offer reduced rent to specific tenant groups, including seniors aged 65 and older and individuals with permanent and total disabilities. The disabilities must be verified through qualification for benefits from Social Security, the Railroad Retirement Act, federal military benefits, or other federal retirement systems, or by determination from a local government entity. The bill provides flexibility for local jurisdictions to establish their own specific guidelines for these tax credits, such as defining precise eligibility requirements, setting limitations on credit amounts, determining the duration of the credits, and establishing any additional implementation details deemed necessary. By allowing local governments to customize the credit program, the legislation aims to support affordable housing for vulnerable populations while giving municipalities discretion in designing their rental assistance approaches.

Budget and Finance

https://malegislature.gov/Bills/194/H3029