An Act relative to updating and modernizing Chapter 40R.

HD 987 updates Massachusetts' Chapter 40R zoning incentives to encourage new housing development. It establishes tiered payments for cities/towns with approved "smart growth zoning districts" (based on percentage increase in new housing units, from $20,000 for up to 20% growth to $1.2 million for 501%+ growth) and separate $6,000 per-unit bonuses for new housing in both smart growth and "starter home zoning districts." The bill also requires the department to analyze these payments against housing cost trends using the Consumer Price Index. These enhanced incentives are temporary, reverting to original levels after 10 years from enactment.