An Act relative to updating and modernizing Chapter 40R

This bill updates Massachusetts' Chapter 40R to modernize housing incentives. It establishes tiered payments for cities/towns with approved "smart growth" or "starter home" zoning districts based on projected new housing units (e.g., $20,000 for up to 20% growth, $1.2 million for over 500% growth). It also adds a $6,000 per-unit bonus for new housing constructed in these districts. The bill requires the department to analyze these incentives against housing costs (using the Consumer Price Index) and mandates that increased incentives revert to original levels 10 years after enactment. The changes apply to tax years starting January 1, 2025.