The Healey-Driscoll Administration files the Affordable Homes Act (H.4128)

The Administration’s bond bill, The Affordable Homes Act, was filed on October 18, 2023. It contains $4.12 billion in capital authorizations for public housing, new and existing housing production and preservation programs. In addition, it includes 2 tax credits, 28 policy tools , and 3 executive orders to reduce barriers to housing production and preservation, protect tenants, support local communities, and seniors and families and individuals with the lowest incomes. In total, the bill supports the creation of more than 40,000 homes and rehabilitation of 27,000 existing units. The Executive Office of Housing and Livable Communities has published a fact sheet summarizing the bill. Highlights of the bill include:

$1.6B – Public Housing (capital improvements, decarbonization, redevelopment projects, accessibility upgrades for persons with disabilities)
$275M – Sustainable and Green Housing Initiatives and Innovative Housing Proposals
$100M for CommonWealth Builder (affordable homeownership)
New capital resource to support the cleanup of public land to prepare it for housing development
$100M – middle-income housing production
$50M – Momentum Fund (permanent, revolving fund to accelerate development of mixed-income multifamily housing)
Accessory Dwelling Units (ADUs) by right
Local option transfer fee
Establishment of Office of Fair Housing
Community Investment Tax Credit to support the work of community development corporations
Homeownership Tax Credit to support production of affordable homes for first-time homebuyers