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

What it means

The final housing bond bill from a House-Senate conference committee. It lets the state borrow up to $1,800,000,000 for housing programs, including $600,000,000 for renovation, code compliance and accessibility projects under chapter 121B of state law, $400,000,000 for the Affordable Housing Trust Fund, $150,000,000 for the Housing Stabilization and Investment Trust Fund, $125,000,000 to preserve expiring-use properties, $100,000,000 each for the Housing Innovations Trust Fund and a Workforce Housing Fund, $65,000,000 and $55,000,000 for housing for people with mental illness and disabilities, $60,000,000 for home modifications for people with disabilities, $50,000,000 each for a public housing demonstration program and mixed-use housing in commercial areas, and $45,000,000 for early education and out-of-school-time facilities. It extends several housing-related tax credit programs (moving 2018 and 2019 dates to 2023 and 2024), raises one credit's yearly cap from $50,000,000 to $55,000,000, and sets community investment tax credit caps that rise to $12,000,000 a year for 2023 to 2025. It also gives the state an option to buy some assisted disabled housing when affordability limits expire, requires yearly capital plans and twice-yearly progress reports, and creates a special commission on housing for adults with disabilities.

Source: official text and history of H.4536 on malegislature.gov. This describes the bill text posted there; amendments may have changed the version that was voted on.