SECTION 1. Section 6 of chapter 62 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out, in lines 896 to 898, inclusive, the words “The total amount of credits that may be authorized by DHCD in a calendar year pursuant to this subsection and section 38BB of chapter 63 shall not exceed $10,000,000 and” and inserting in place thereof the following words:

DHCD may authorize up to $57,000,000 in credits during fiscal year 2024 and up to $30,000,000 in credits annually thereafter under this subsection and section 38BB of chapter 63. In addition, DHCD may authorize annually: (i) any portion of the annual cap on credits not authorized by DHCD in the preceding calendar years under this subsection or said section 38BB of said chapter 63; and (ii) any credits under this subsection or said section 38BB of said chapter 63 returned to DHCD by a certified housing development project.

SECTION 2. Section 38BB of chapter 63, as so appearing, is hereby amended by striking out, in lines 42 to 44, inclusive, the words “The total amount of credits that may be authorized by DHCD in a calendar year under this section and subsection (q) of section (6) of chapter 62 shall not exceed $10,000,000 and” and inserting in place thereof the following words:

DHCD may authorize up to $57,000,000 in credits during fiscal year 2024 and up to $30,000,000 in credits annually thereafter under this section and subsection (q) of section (6) of chapter 62. In addition, DHCD may authorize annually: (i) any portion of the annual cap on credits not authorized by DHCD in the preceding calendar years under this section or said subsection (q) of said section (6) of said chapter 62; and (ii) any credits under this section or said subsection (q) of said section (6) of said chapter 62 returned to DHCD by a certified housing development project.

SECTION 3. Paragraph (8) of subsection (l) of section 6 of chapter 62, as so appearing, is hereby amended by striking out, in line 596, the figure “$2,000,000” and inserting in place thereof the following figure:- “$5,000,000”.

SECTION 4. Paragraph (9) of subsection (p) of section 6 of chapter 62, as so appearing in the 2020 official edition, is hereby amended by striking out, in line 835, the figure “$2,000,000” and inserting in place thereof the following figure:- “$5,000,000”.

SECTION 5. Subparagraph (iii), paragraph (2) of subsection (w) of section 6 of chapter 62, as so appearing, in line 1256, is hereby amended by striking out the figure “$2,000,000” and inserting in place thereof the following figure:- “$5,000,000”.