An Act to reform housing development incentive program tax credits

This bill modifies Massachusetts housing development tax credits to require that projects include at least 20 percent affordable units for lower-income residents. Specifically, it mandates that rental units be available to people earning up to 50 percent of the area median income and owner-occupied units for those earning up to 80 percent of the area median income. The changes also update the definition of affordable housing within the relevant tax credit sections to reflect these new income thresholds. These amendments directly impact developers seeking tax incentives and the state's housing development programs.