An Act relative to the housing development incentive program

This bill increases the funding available for Massachusetts' housing development incentive program, which provides tax credits to developers building affordable housing. It raises the annual credit cap from $10 million to $57 million for fiscal year 2024 and sets a future annual limit of $30 million. Additionally, the legislation adjusts specific project thresholds, increasing the maximum credit amount for certain developments from $2 million to $5 million. These changes allow the Department of Housing and Community Development to support a larger number of housing projects and offer greater financial assistance to certified developers.