Amendment #17 to H3770

Housing Development Incentive Program (HDIP)

Mr. Cabral of New Bedford moves to amend the bill by adding the following eleven sections:

SECTION XXXX. Section 6 of chapter 62 is hereby amended by striking out, in lines 896 to 898, inclusive, as appearing in the 2020 Official Edition, the words “The total amount of credits that may be authorized by DHCD or its successor 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 or its successor may authorize up to $57,000,000 in credits during taxable year 2023 and up to $30,000,000 in credits annually thereafter under this subsection and section 38BB of chapter 63. In addition, DHCD or its successor may authorize annually: (i) any portion of the annual cap on credits not authorized by DHCD or its successor 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 or its successor by a certified housing development project. The total amount of credits authorized during a year.

SECTION XXXX. Said section 6 of said chapter 62 is hereby further amended by inserting after the figure “63;”, in line 900, as so appearing, the following word:- and.

SECTION XXXX. Said section 6 of said chapter 62 is hereby further amended by striking out, in lines 903 to 905, inclusive, as so appearing, the words “Any portion of the $10,000,000 annual cap not awarded by the DHCD or its successor in a calendar year shall not be applied to awards in a subsequent year.”.

SECTION XXXX. Said section 6 of said chapter 62 is hereby further amended by striking out, in line 906, as so appearing, the word “The” the first time it appears.

SECTION XXXX. Section 38BB of chapter 63, as appearing in the 2020 Official Edition, 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 or its successor 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 or its successor may authorize up to $57,000,000 in credits during taxable year 2023 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 or its successor may authorize annually: (i) any portion of the annual cap on credits not authorized by DHCD or its successor 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 or its successor by a certified housing development project. The total amount of credits authorized during a year.

SECTION XXXX. Said section 38BB of said chapter 63, as so appearing, is hereby further amended by inserting after the words “chapter 62;”, in line 46, the following word:- and.

SECTION XXXX. Subdivision (5) of said section 38BB of said chapter 63, as so appearing, is hereby amended by striking out the second sentence.

SECTION XXXX. Paragraph (8) of subsection (l) of section 6 of chapter 62, as appearing in the 2020 Official Edition, 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 XXXX. Paragraph (9) of subsection (p) of section 6 of chapter 62, as 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 XXXX. Subparagraph (iii), paragraph (2) of subsection (w) of section 6 of chapter 62, as appearing in the 2020 Official Edition, 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”.

SECTION XXXX. Sections 46, 48, 61, 63 and 124A of chapter 287 of the acts of 2014, as most recently amended by section 26 of chapter 99 of the acts of 2018, are hereby repealed.

Additional co-sponsor(s) added to Amendment #17 to H3770

Housing Development Incentive Program (HDIP)