On July 31, the Massachusetts Legislature finalized and passed an Economic Development Bill (H.4868).
The bill contains a $250 million capital reauthorization for the MassWorks Infrastructure Development Program. This will allow more grants to communities to support economic development, affordable housing, and job creation.
The final legislation also contains two provisions with CHAPA's priorities:
Mortgage Loan Originator Licensing Exemptions for Affordable Housing Nonprofits
This provision, in Sections 49-52 of H.4868, will help create affordable homes and protect access to housing assistance programs by creating a narrow exemption for affordable housing nonprofits from state licensing requirements for mortgage loan originators. For more information on this provision, click here.
Economic Mobility Commission
This provision, in Section 63 of H.4868, creates a commission to identify the most effective self-sufficiency programs, examine the impact of cliff effects tied to minimum wage increases, and help shape programs that will best assist low-income families achieve economic mobility and independence. For more information on this provision, click here.
The bill is now before Governor Baker for his signature. CHAPA is asking the Governor to sign the bill and include these provisions. For CHAPA's letter to the Governor on the Economic Development Bill, click here.
CHAPA thanks Rep. Wagner and Sen. Lesser, Chairs of the Joint Committee on Economic Development and Emerging Technologies, for their leadership passing this bill. Thanks also to Speaker DeLeo and Senate President Spilka as well as Senate President Emerita Chandler for their leadership on this bill. Finally, thanks to all the members of the Legislature for supporting the bill.