Massachusetts H3094 provides tax credits for certified rural housing redevelopment projects.

Massachusetts H3094 introduces a tax credit program for certified rural housing redevelopment projects. These projects must be located in rural areas, contain at least 80% market rate residential units, and involve substantial rehabilitation. The Department of Housing and Community Development can certify projects meeting these criteria. The bill outlines the process for certification, including municipal applications and department evaluations. It also details the transferability of credits, carryforward provisions, and an annual cap of $10,000,000 on credits awarded.

Massachusetts H3094 provides tax credits for certified rural housing redevelopment projects.

Massachusetts H3094 introduces a tax credit program for certified rural housing redevelopment projects. These projects must be located in rural areas, contain at least 80% market rate residential units, and involve substantial rehabilitation. The Department of Housing and Community Development can certify projects meeting these criteria. The bill outlines the process for certification, including municipal applications and department evaluations. It also details the transferability of credits, carryforward provisions, and an annual cap of $10,000,000 on credits awarded.