$1.8 Billion Housing Bond Bill Signed Into Law!

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See below from CHAPA about this great news:

On May 31, Governor Charlie Baker signed the $1.8 billion Housing Bond Bill (H.4536) into law. The legislation, the largest housing bond bill in the state’s history, will increase the production of affordable housing, diversify the state’s housing portfolio, modernize public housing, preserve the affordability of existing housing, and invest in new, innovative solutions to address Massachusetts’ rising demand for housing.

The bill authorizes $1.8 billion in new capital spending over the next five years for the production and preservation of affordable housing for low- to moderate-income households, supportive housing, and housing serving vulnerable populations. It expands tax credit programs that support affordable housing, including the state Low Income Housing Tax Credit, the Community Investment Tax Credit, and the state Historic Tax Credit. It also extends the Brownfields Tax Credit and the Housing Development Incentive Program. Finally, it re-authorizes the Early Education and Out of School Time Fund, which supports quality early education centers for children.

The Governor signed the bill in Brighton at the Harry and Jeanette Weinberg House, a development by Jewish Community Housing for the Elderly. For a copy of his press release, click here.

“The housing bond bill expands opportunities for children, seniors, people with disabilities, and families at risk of homelessness to find safe, healthy, and affordable homes,” said Rachel Heller, chief executive officer of Citizens’ Housing and Planning Association. “This legislation is the result of strong partnerships among advocates, the Legislature, and the Administration who worked together to pass the bill. As one of the first bond bills filed and passed this session, the Housing Bond Bill demonstrates that creating and preserving more affordable housing is a top priority in the Commonwealth.”

CHAPA sincerely thanks the Governor and his administration, including Lieutenant Governor Karyn Polito, Secretary Jay Ash, and Undersecretary Janelle Chan, the Legislature, and all advocates who helped pass this legislation.

Particularly, thanks to the bill sponsors Rep. Kevin Honan and former Senator Linda Dorcena Forry; Senate President Harriette Chandler; Speaker of the House Robert DeLeo; Housing Committee Co-Chair Senator Joseph Boncore; House Ways and Means Chair Rep. Jeffrey Sánchez; Senate Ways and Means Chair Senator Karen Spilka; House Bonding Committee Chair Rep. Tony Cabral; and Senate Bonding Committee Chair Senator John Keenan.

For more information on the Housing Bond Bill, click here.