An Act allow all towns and cities to use Tax Increment Financing (TIF) as an incentive for housing (residential rehab or commercial conversion)

HD 1422 would allow all Massachusetts towns and cities to use Tax Increment Financing (TIF) to incentivize housing projects, specifically targeting residential rehabilitation and commercial building conversions. The bill requires the Economic Assistance and Community Capital (EACC) to designate eligible areas based on criteria like job creation, business growth, or rehabilitating neglected buildings. Municipalities must get EACC approval for TIF agreements before they can take effect, ensuring projects align with state goals of boosting housing supply and economic resilience. This change removes previous restrictions, making TIF available statewide for qualifying housing and commercial conversion projects.