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 limit from $10 million to $57 million for fiscal year 2024 and sets a new annual cap of $30 million for subsequent years. Additionally, the legislation adjusts specific project thresholds, raising the maximum credit amount for certain developments from $2 million to $5 million. These changes directly affect housing developers and the Department of Housing and Community Development by allowing for a larger pool of financial incentives to be distributed.