Bill > H2788

This bill aims to promote local and regional affordable housing planning by amending Chapter 40B of the General Laws, which governs affordable housing initiatives. Key provisions include expanding the definition of "subsidized housing inventory" to include housing allocated through housing credit agreements, establishing a formal process for maintaining and challenging this inventory, and redefining "low or moderate income housing" to encompass a broader range of subsidized housing that meets specific affordability, fair marketing, and development criteria. The bill also introduces the concept of "regional housing planning districts," allowing multiple municipalities to collaborate on comprehensive housing plans that designate areas for development and set zoning regulations to meet affordable housing goals, with provisions for housing built in one municipality to count towards another's inventory within the district. Furthermore, it creates a "Municipal Initiative Housing Trust Fund," financed by surcharges on deed recordings and other sources, to support the creation of these regional districts, pre-development planning for affordable housing projects, and the direct subsidization of low or moderate income housing construction, with priority given to municipalities with lower property values per capita. Finally, the bill establishes a "Chapter 40B Integrity Study Commission" to investigate developer profits and oversight mechanisms within affordable housing programs and recommend legislative actions to prevent fraud and profiteering.