Amendment #20 to H4314

Local Revenue for Affordable Housing Programs

Mr. Honan of Boston moves to amend the bill in section 4, after line 35, by inserting the following:

''Low income housing'', housing affordable to and occupied by individuals and families whose annual income is less than 80 per cent of the areawide median income as determined by the United States Department of Housing and Urban Development. Affordability shall be assured for a period of not less than 30 years through the use of an affordable housing restriction as defined in section 31 of chapter 184.

“Low and moderate income housing programs”, (i) programs that assist the acquisition, creation, and preservation of low income housing or moderate income housing, or (ii) programs that provide grants, loans, rental assistance, security deposits, interest-rate write downs or other forms of assistance directly to individuals and families who are eligible for low income housing or moderate income housing, or to an entity that owns, operates or manages such housing, for the purpose of making housing affordable

''Moderate income housing'', housing affordable to and occupied by individuals and families whose annual income is less than 100 per cent of the areawide median income as determined by the United States Department of Housing and Urban Development. Affordability shall be assured for a period of not less than 30 years through the use of an affordable housing restriction as defined in section 31 of chapter 184;

In section 4, lines 81-84, inclusive, by striking out the sentence in those lines and inserting in place thereof the following:

(d) Any city or town which accepts the provisions of subsection (a) shall distribute an amount equal to 50 per cent of the excise tax collected by hosts pursuant to this section to programs addressing either local infrastructure needs or low and moderate income housing programs. Provided, not less than 25 per cent of such excise collected under subsection (a) shall be distributed to low and moderate income housing programs. Low and moderate income housing programs shall include, but not be limited to, an affordable housing trust fund created under Section 55C of Chapter 44 of the general laws.