Amendment ID: S2381-1-R1
Redraft Amendment 1
Affordable Housing Programs
Mr. Eldridge, Ms. L'Italien and Mr. Barrett move to amend the amendment by inserting before the definition “Bed and breakfast establishment”, the following definitions:-
“Affordable housing”, housing affordable to and occupied by individuals and families whose annual income is equal to or less than 60 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.
“Affordable housing programs”, (i) programs that assist in the acquisition, creation, and preservation of affordable 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 affordable housing, or to an entity that owns, operates or manages such housing, for the purpose of making housing affordable.;
and by inserting after the word “period.” in line 127 the following:-
Any city or town which accepts the provisions of this section shall distribute an amount equal to 50 per cent of the sums excise collected from the transfer of occupancy of a room in a transient accommodation located within that city or town and distributed, credited or paid to each such city or town pursuant to this section to affordable housing programs.