SECTION 1. There shall be a task force to study and propose recommendations to create a fund to assist homeowners that struggle with crumbling foundations. The task force shall examine (i) cost of materials most commonly used in crumbling foundations; (ii) geographic areas in which homeowners most commonly struggle with crumbling foundation; (iii) average costs of testing and inspection; (iv) state funds outside the Commonwealth used for similar purposes; and (v) the total cost of administering such a fund.

SECTION 2. The task force shall consist of: the secretary of the office of economic development or a designee, who shall serve as chair; the secretary of the department of housing and community development, or a designee; the commissioner of public safety and inspections, or a designee; the secretary of the office of housing and livable communities, or a designee; the commissioner of the division of insurance, or a designee; the senate and house chairs of the joint committee on housing, or their designee(s); the house minority leader, or a designee; the senate minority leader, or a designee; and 4 members to be appointed by the chair, 1 of whom shall be a representative of a public housing authority, 1 of whom shall be a property manager or representative of a property management company; 1 of whom shall be a representative of an insurance company which provides homeowners insurance; and 1 of whom shall be a representative of Massachusetts Association of Housing Authority Maintenance Supervisors.

SECTION 3. Not later than July 31, 2027, the task force shall submit its report, including its recommendations or any proposed legislation necessary to the clerks of the house of representatives and the senate, the house and senate committees on ways and means, and the joint committee on housing.