MA H1478

Establishes a Social Housing Production Revolving Loan Fund within the Massachusetts Housing Finance Authority (MHFA) to provide financial assistance to local and regional housing authorities for mixed-income social housing development

Appropriates $100,000,000 through bond issuance to capitalize the fund, with bonds payable by June 30, 2060 and a maximum 30-year term

Requires housing developments to remain in public ownership (majority controlled by housing authorities or public entities) or social ownership (majority controlled by tenants, cooperatives, or community land trusts) with affordability restrictions lasting at least 99 years

Mandates developments meet federal affordable housing set-asides (20% at 50% AMI or 40% at 60% AMI), adopt rent stabilization guidelines, target net zero energy standards, and prohibit new gas hookups

Requires all construction projects under the program to comply with prevailing wage requirements and public procurement/bidding laws, and gives priority to developments that do not use Low Income Housing Tax Credits