Bill > H1086

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 a housing credit allocation agreement, establishing a framework for municipalities to form "regional housing planning districts" based on shared environmental, demographic, or infrastructure interests, and requiring these districts to develop comprehensive plans that designate areas for development and ensure sufficient land is available for affordable housing construction. The bill also introduces a "Municipal Initiative Housing Trust Fund" funded by surcharges on deed recordings and other sources, which will be used to support regional housing planning, pre-development analysis, and the construction of low or moderate-income housing. Furthermore, it defines "limited dividend organization" to cap profits for developers of affordable housing, with excess profits directed to municipalities for affordable housing purposes, and establishes a "Chapter 40B Integrity Study Commission" to investigate potential profiteering and recommend legislative actions.