Establishes the Martha’s Vineyard housing bank to create and preserve year-round and community housing.

The bill establishes the Martha’s Vineyard housing bank, administered by a commission, to create and preserve year-round and community housing on Martha’s Vineyard. The commission has powers to acquire real property, issue bonds and notes, and impose fees on real property transfers. The housing bank aims to fund projects that create, preserve, or support housing, with a focus on minimizing ecological disturbances and mitigating climate change. Year-round housing restrictions and anti-flipping restrictions apply to funded projects.

Establishes the Martha’s Vineyard housing bank to create and preserve year-round and community housing.

The bill establishes the Martha’s Vineyard housing bank, administered by a commission, to create and preserve year-round and community housing on Martha’s Vineyard. The commission has powers to acquire real property, issue bonds and notes, and impose fees on real property transfers. The housing bank aims to fund projects that create, preserve, or support housing, with a focus on minimizing ecological disturbances and mitigating climate change. Year-round housing restrictions and anti-flipping restrictions apply to funded projects.