MA H3128

Creates new "allocatee" definition for the state low-income housing tax credit program, expanding eligibility beyond project owners to include taxpayers who commit to provide funding to qualified Massachusetts housing projects

Allows the Department of Housing and Community Development to allocate low-income housing tax credits directly to allocatees rather than only to project owners

Amends both Chapter 62 (personal income tax) and Chapter 63 (corporate excise tax) of the General Laws to replace references to "owner" with "allocatee" throughout the tax credit provisions

Enables investors who provide funding commensurate with their tax credit allocation to receive credits directly, streamlining the financing process for affordable housing developments