Amendment #135 to H5562

Special Commission on Affordable Housing Insurance

Mr. Owens of Watertown moves to amend the bill by adding the following section:

“SECTION XX. There shall be a special commission established to develop a statutory and regulatory framework to address the setting of rates by insurance companies for properties with affordability restrictions and properties where tenants use vouchers to pay part or all of their rent. The commission shall report its findings, including any proposed legislation, to the house and senate committees on ways and means, the joint committee on financial services and the joint committee on housing no later than December 31, 2026.

 The commission shall consist of 10 members including: 1 member of the house of representatives appointed by the speaker of the house; 1 member of the senate appointed by the senate president; the commissioner of insurance, or a designee, who will act as chair; the secretary of the executive office of housing and livable communities, or a designee; the attorney general, or a designee; 1 of whom shall be a representative from the Citizens' Housing And Planning Association; 1 of whom shall be a representative from the Massachusetts Association of Community Development Corporations; 1 of whom shall be a representative from the Builders of Color Coalition; 1 of whom shall be a representative from the National Association of Industrial and Office Properties Massachusetts; and 1 of whom shall be represent an insurance trade association.”.

Additional co-sponsor(s) added to Amendment #135 to H5562

Special Commission on Affordable Housing Insurance