Allow all towns and cities to use Tax Increment Financing (TIF) as an incentive for housing (residential rehab or commercial conversion).

This bill allows all towns and cities in Massachusetts to use Tax Increment Financing (TIF) as an incentive for housing projects, including residential rehab or commercial conversion. TIF can be offered to the controlling business of a certified project or any person or entity expanding a facility in a TIF-eligible area. The Economic and Community Advancement Commission (EACC) must approve the TIF agreement, which must comply with state law.

Allow all towns and cities to use Tax Increment Financing (TIF) as an incentive for housing (residential rehab or commercial conversion).

This bill allows all towns and cities in Massachusetts to use Tax Increment Financing (TIF) as an incentive for housing projects, including residential rehab or commercial conversion. TIF can be offered to the controlling business of a certified project or any person or entity expanding a facility in a TIF-eligible area. The Economic and Community Advancement Commission (EACC) must approve the TIF agreement, which must comply with state law.