Massachusetts H3663 establishes tax incentives for small-scale commercial development in gateway cities.

Massachusetts H3663 amends state law to create tax incentives for small-scale commercial development in gateway cities. These cities are defined as municipalities with populations between 35,000 and 250,000, below-average median household income, and below-average bachelor's degree attainment. The bill allows cities to adopt gateway municipality tax increment financing plans, which can offer tax exemptions for up to 30 years on real property within designated areas. It also provides credits for costs related to renovating abandoned buildings and improving commercial buildings in these areas.

Massachusetts H3663 establishes tax incentives for small-scale commercial development in gateway cities.

Massachusetts H3663 amends state law to create tax incentives for small-scale commercial development in gateway cities. These cities are defined as municipalities with populations between 35,000 and 250,000, below-average median household income, and below-average bachelor's degree attainment. The bill allows cities to adopt gateway municipality tax increment financing plans, which can offer tax exemptions for up to 30 years on real property within designated areas. It also provides credits for costs related to renovating abandoned buildings and improving commercial buildings in these areas.