Bill Text: MA H3454 | 2009-2010 | 186th General Court | Introduced
Bill Title: Provide tax credits for persons developing low and moderate income housing
Spectrum: Partisan Bill (Democrat 1-0)
Status: (Introduced - Dead) 2009-01-20 - Public Hearing date 6/23 at 10:30 AM in Hearing Room A1 [H3454 Detail]
Download: Massachusetts-2009-H3454-Introduced.html
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Garrett J. Bradley
_______________
To the
Honorable Senate and House of Representatives of the Commonwealth of
Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act providing tax credits for the construction of affordable housing.
_______________
PETITION OF:
|
Name: |
District/Address: |
|
Garrett J. Bradley |
3rd Plymouth |
[SIMILAR MATTER FILED IN PREVIOUS
SESSION
SEE HOUSE, NO. 1255 OF 2007-2008.]
The Commonwealth of
Massachusetts
_______________
In the Year Two Thousand and Nine
_______________
An Act providing tax credits for the construction of affordable
housing.
Be
it enacted by the Senate and House of Representatives in General Court
assembled, and by the authority of the same, as follows:
SECTION 1. Notwithstanding any general or special law to the contrary, any person who develops low and moderate rental housing, not subject to section 20 to 23, inclusive of chapter 40B of the General Laws, shall be entitled to a tax credit equal to 10 per cent of the value of such housing. The credit may come from an income tax credit, a corporate tax credit or a real property tax credit; provided, however, that not more than ½ shall come from each credit. For the purposes of this section, low and moderate rental housing shall mean decent, safe and sanitary dwelling units, which are occupied by an individual or a family whose income does not exceed the limits established under regulations promulgated to meet the objectives of chapter 40B.
