An Act relative to affordable housing solutions

This bill creates a new tax credit program to encourage the development of affordable housing and facilities for people facing housing insecurity in Massachusetts. It allows both individual taxpayers and business corporations to receive a credit equal to 25% of their costs for turning vacant properties into affordable housing or shelters, with a maximum credit of $750,000 per taxpayer per year. The Department of Housing and Community Development must approve these projects, and the total amount of credits available each year is capped at $20 million. Additionally, the bill requires the department to report annually on how many credits were claimed and refunded to the legislature.