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MA S1611

Expanding the Brownfields tax credit to encourage affordable housing


summary

Introduced
01/23/2017
In Committee
01/23/2017
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

For legislation to expand the Brownfields tax credit to encourage affordable housing. Revenue.

AI Summary

This bill expands the Brownfields tax credit to encourage affordable housing development. Specifically, it amends two sections of state law to allow the tax credit to be applied to properties that have an "activity and use limitation" recorded after June 20, 2014, if at least 20% of the residential units in the development are restricted to households making 120% or less of the area median income. This change aims to incentivize the redevelopment of contaminated properties for affordable housing projects.

Committee Categories

Budget and Finance

Sponsors (4)

Last Action

Accompanied a new draft, see H3851 (on 08/03/2017)

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