Chapter 23B of the General Laws is hereby amended by adding the following section:-

Section 31. The department shall establish and administer a program of rental assistance for persons over the age of 75 years through mobile and project-based vouchers; provided, that the income of eligible households shall not exceed 80 per cent of the area median income; provided, that the department may target not less than 75 per cent of all new vouchers to households whose income at initial occupancy does not exceed 30 per cent of the area median income. The monthly dollar amount of each voucher shall be the department-approved monthly rent of the unit less the monthly amount paid for rent by the household. Each household holding a voucher shall pay at least 30 per cent, but not more than 40 per cent, of its income as rent. The department shall administer the program in a fair, just and equitable manner. The commonwealth shall accept funds from the appropriate federal authorities for said program. The department shall promulgate rules and regulations to implement this section.