HOUSE DOCKET, NO. 1071 FILED ON: 1/19/2011
HOUSE . . . . . . . . . . . . . . . No. 1044
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The Commonwealth of Massachusetts
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PRESENTED BY:
James M. Cantwell
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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 adoption of the accompanying bill:
An Act providing tax credits for the construction of affordable housing..
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PETITION OF:
Name: | District/Address: | Date Added: |
James M. Cantwell | 4th Plymouth | 1/19/2011 |
HOUSE DOCKET, NO. 1071 FILED ON: 1/19/2011
HOUSE . . . . . . . . . . . . . . . No. 1044
By Mr. Cantwell of Marshfield, petition (accompanied by bill, House, No. 1044) of James M. Cantwell for legislation to provide tax credits for persons developing low and moderate income housing. Education. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3454 OF 2009-2010.]
The Commonwealth of Massachusetts
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In the Year Two Thousand Eleven
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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.