Bill > H3128

This bill introduces a new definition of "allocatee" in the context of low-income housing tax credits (LIHTC) for both income tax (Chapter 62) and corporate tax (Chapter 63) sections of Massachusetts law. An allocatee is defined as either the owner of a qualified Massachusetts housing project or an entity that has committed to provide funding to such a project in an amount matching the low-income housing tax credit allocation. The bill modifies several sections of existing law to replace the term "owner" with "allocatee" throughout, which suggests the intent is to provide more flexibility in how low-income housing tax credits can be assigned or transferred. By allowing credits to be allocated to entities beyond just the project's direct owner, the bill appears aimed at making it easier to finance and develop low-income housing projects by creating more pathways for tax credit utilization. The changes are technical in nature but could potentially make it more attractive for investors and developers to participate in affordable housing development by broadening who can receive and benefit from these tax credits.

Budget and Finance

https://malegislature.gov/Bills/194/H3128