SECTION 1. Section 40P:2 of chapter 40P of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by adding after "Voluntary and uncoerced", in line 5, the following-
(except as described in Chapter 40P:3, section d)
SECTION 2. Section 40P:3 of Chapter 40P of the General Laws, as appearing in the 2020 Official Edition, is hereby further amended by adding section (d)-
Section (d). Exception. When individuals over 60 years reside in rental properties sold to a new owner there shall be a limit on the size of annual rent increases for the individual's rental unit within its jurisdiction if the tenant agrees to apply and/or shows they are on a waitlist for public housing, provided that:
(1)Said annual limit shall not exceed the annual change in the Consumer Price Index for the applicable area in which the city or town is situated, or five percent, whichever is less, for the term of 5 years;
(2)Any dwelling unit offered for rent shall be subject to this act; however, any such unit in an owner-occupied building with two dwelling units or less or any unit whose rent is otherwise subject to regulation by a public authority shall be expressly excluded from this provision. This provision shall apply to dwelling units in the private housing market;
(3)City or towns shall ensure that limited rent control of dwelling units governed by this measure are eligible to seniors with income at or below 80 percent of Area Median Income.
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