Mass. Statehouse Panel Pushes Along Affordable Housing Bill
The Massachusetts Legislature's Joint Committee on Housing has advanced a bill designed to expand and preserve affordable housing in the state. It's a five-year, $1.4 billion housing bond bill. The legislation would provide additional authorization for housing programs for low-income and moderate-income residents across the state.
The bill includes $500 million to help modernize existing public housing developments and $80 million in grants and loans for a fund that provides supportive housing for the homeless, victims of domestic violence, seniors, veterans, and individuals recovering from substance abuse. Another $55 million in the bill would help blind and severely disabled homeowners modify their homes to avoid placement in more costly institutional settings such as nursing homes.
The bill also extends the state's low income housing tax credit at $20 million annually for five more years. The bill now heads to House and Senate lawmakers for debate.