An Act to protect affordable housing stock

This bill creates a new 5% annual assessment on businesses that operate short-term rentals in Massachusetts, excluding those who live in the properties they rent out. The revenue collected from this fee and from fines for operating without a registration certificate must be used exclusively to fund affordable housing projects in the specific towns where the rentals are located. Additionally, the law establishes a penalty structure that increases by 1% each year for unregistered operators, capping the fine at 15% of their annual revenue, while also allowing the state to negotiate agreements with unregistered operators to get them registered before penalties apply.