This week, Representative Carolyn Dykema (D-Holliston) joined her colleagues in the House of Representatives in voting to pass comprehensive housing legislation that authorized $1.7 billion in bonding for affordable housing across the Commonwealth.
H.4134, An Act financing the production and preservation for housing for low and immoderate income residents, expands on the 2013 housing bond legislation authorized by the Legislature, which has supported the creation of over 12,000 housing units. However, Massachusetts still faces an estimated housing gap of nearly 50,000 units as communities continue to grow and populations rise. Timely reauthorization of existing incentive programs and new investments in cities and towns will continue to support and attract the high-quality workforce that has sustained the Commonwealth’s strong and growing economy.
This bill will provide continued funding for programs that benefit persons with disabilities, seniors, children in early education programs, and many of the Commonwealth’s vulnerable residents. In addition, the legislation would support continued economic development in growing municipalities across the Commonwealth through targeted investments in creative policy initiatives. The creation of a Community Investment tax credit would allow a 50 percent tax credit for individuals who donate to community development corporations, and the bill also authorizes $100 million for a Housing Innovations Trust Fund. That fund creates incentives for non-profit developers to create alternative affordable housing plans, including supportive housing for veterans, elders, and domestic violence survivors. The legislation also extends the successful Brownfields waste cleanup tax credit program through 2024, enabling continued work to permanently clean up contaminated sites.
“The availability and affordability of housing is one of the cornerstones of our economy, and I frequently hear from businesses and residents of my district about the challenges housing poses,” said Rep. Dykema. “This bill will build upon our successful programs to increase the Commonwealth’s housing supply and continue to support strong, sustainable growth moving forward.”
H.4134 passed the House of Representatives with overwhelming support and now travels to the Senate for consideration.
Representative Carolyn Dykema represents the communities of Holliston, Hopkinton, Southborough and Precinct 2 of Westborough in the Massachusetts House of Representatives.