An Act establishing the Massachusetts social housing program

This bill creates a new state program to fund the development of mixed-income social housing, directly affecting local and regional housing authorities and residents seeking affordable homes. It authorizes the Massachusetts Housing Finance Authority to issue $100 million in taxable bonds to establish a revolving loan fund that provides financial assistance for these projects. The legislation mandates that funded developments maintain public ownership, include a significant portion of below-market rent units for at least 99 years, and meet strict energy efficiency standards by excluding new gas hookups. Additionally, the program gives priority to projects that do not rely on existing Low Income Housing Tax Credits or tax-exempt volume caps.