Financing the production and preservation of housing for low and moderate income residents

What it means

A Senate Ways and Means version of the housing borrowing bill, with items in section 2 adding up to $1,800,000,000 (the cover note gives a $1,800,000,000 bond authorization, while section 35 caps bonds for the section 2 items at $1,700,000,000). The largest items are $600,000,000 in grants for projects under clause (j) of section 26 of chapter 121B, such as renovation and code compliance, $400,000,000 for the Affordable Housing Trust Fund, $150,000,000 for the Housing Stabilization and Investment Trust Fund, $125,000,000 for the Capital Improvement and Preservation Trust Fund, and $100,000,000 each for the Housing Innovations Trust Fund and the Workforce Housing Fund. Smaller items fund housing for people with disabilities or mental illness, home modifications, a public housing demonstration program, mixed-use development in neighborhood business areas and $45,000,000 for early education and out-of-school-time facilities. It also changes several housing tax credits, including raising one annual cap from $50,000,000 to $55,000,000, and requires a yearly housing capital plan starting July 1, 2018.

Source: official text and history of S.2368 on malegislature.gov. This describes the bill text posted there; amendments may have changed the version that was voted on.