On October 18th, the Healey administration unveiled a $4.1 billion housing bond bill, titled the Affordable Homes Act, which combined a new five-year capital funding plan with a variety of policy proposals intended to spur production and accelerate rehabilitation of housing stock, reduce state and local barriers to development, and assist residents in attaining stable housing.
This Brief will break down each of the major components of the bill. Specifically, it will:
1. Assess how the proposed investment level compares to prior housing bond bills and how the authorizations fit within our capital budget.
2. Summarize what major policy proposals do and their role in affecting housing production.
3. Look at state and local tax proposals put forward in the bill and examine how these policies are likely to impact housing production as well as the state’s economy.