Please see this exciting news below from CHAPA:

On March 29th, the Massachusetts Senate unanimously passed a $1.8 billion Housing Bond BillS.2368, recapitalizes affordable housing programs through the capital budget at levels supported by CHAPA. In addition to reauthorizing capital budget programs, the Senate bond bill also includes:

  • An increase for the State Low Income Housing Tax Credit to $25 million per year and an extension through 2025;
  • An increase for the MA Historic Rehabilitation Tax Credit to $55 million per year;
  • Extends the Community Investment Tax Credit to 2025 and increases the maximum allocation of credits each year;
  • Extends the Brownfields Tax Credit for 5 years and increases the credit from 25% to 50% of net response and removal costs if at least 20% of residential units on the land are for households earning up to 120% of the area median income;
  • Extends the Housing Development Incentive Program at $10 million per year through 2024; and
  • Provides a $100 million authorization for MassHousing’s Workforce Housing Initiative.

This is the largest housing bond bill in the state’s history. It will increase the supply of affordable homes, promote community and economic development, and improve the quality of early education for children in the Commonwealth through the Early Education and Out of School Time program.

CHAPA thanks the Senate for supporting the Housing Bond Bill and thanks Senator Joseph Boncore, Chair of the Joint Committee on Housing; Senate President Harriette Chandler; Senator John Keenan, Chair of the Senate Committee on Bonding, State Expenditures and Capital Assets; and Senator Karen Spilka, Chair of the Senate Committee on Ways and Means for their leadership on this bill.

The bill must now be reconciled with the Housing Bond Bill passed by the House of Representatives in February.

Please reach out to your State Senator to say thank you for passing the Housing Bond Bill! You can find your legislator’s contact information by clicking here.

Finally, thank you to all of you who have called, emailed, testified, or made visits to legislators in support of the Housing Bond Bill! We appreciate your continued advocacy for helping everyone in the Commonwealth have a safe, healthy, and affordable place to call home!

For more information on the bill as passed by the Senate, please click here.

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