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MA H3013

MA H3013
Relative to excess profits resulting from 40B developments


summary

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

Introduced Session

190th General Court

Bill Summary

Relative to the penalty for withholding low income housing development excess profits. Housing.

AI Summary

This bill aims to penalize developers who fraudulently withhold excess profits from cities or towns resulting from 40B (Affordable Housing) developments. The key provision of this bill is that any public agency or limited dividend or nonprofit organization convicted of such fraud would be ineligible to construct any additional 40B or 40R (Smart Growth Zoning) developments for a period of 5 years from the date of the conviction. This measure is intended to discourage developers from withholding excess profits and to hold them accountable for their actions in these affordable housing projects.

Committee Categories

Housing and Urban Affairs

Sponsors (8)

Last Action

Accompanied a study order, see H4791 (on 07/23/2018)

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