Massachusetts S853 establishes a program to finance the transition to fossil fuel-free buildings.

Massachusetts S853 creates a fossil fuel-free housing betterment program to assist residential property owners and small businesses in financing renovations, upgrades, or improvements necessary to eliminate fossil fuel usage. The program, administered by the Department of Housing and Community Development, offers loans with varying interest rates based on the type of property owner and the income eligibility of tenants. Municipalities can use up to 2.5% of loan funds to administer local plans and agreements. The program prioritizes funding for communities with lower median household incomes.

Massachusetts S853 establishes a program to finance the transition to fossil fuel-free buildings.

Massachusetts S853 creates a fossil fuel-free housing betterment program to assist residential property owners and small businesses in financing renovations, upgrades, or improvements necessary to eliminate fossil fuel usage. The program, administered by the Department of Housing and Community Development, offers loans with varying interest rates based on the type of property owner and the income eligibility of tenants. Municipalities can use up to 2.5% of loan funds to administer local plans and agreements. The program prioritizes funding for communities with lower median household incomes.