An Act reforming the housing development incentive program, the official text

	SECTION 1. Section 1 of Chapter 40V of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting after the word "units" the following words:- "affordable, “(i) rental units for households whose income is not more than 50 per cent of the area median income as determined defined by the United States Department of Housing and Urban Development; or (ii) owner-occupied units for households whose income is not more than 80 per cent of the area median income. These income limits shall be in effect permanently or for at least 50 years.” 
	SECTION 2. Section 4 of Chapter 40V of the General Laws, as appearing in the 2022 Official Edition, is hereby amended by inserting after the words "market rate units", the following words:- "and not less than 20 per cent affordable: (A) rental units for persons whose income is not more than 50 per cent of the area median income; or (B) owner-occupied units for persons whose income is not more than 80 per cent of the area median income."
	SECTION 3. Section 5 of said Chapter 40V, as appearing in the 2022 Official Edition, is hereby amended by inserting after the word "rate", in both times it appears, the following words:- "and affordable."
	SECTION 4. Clause (iii) of said section 5 of said chapter 40V, as  appearing in the 2022 Official Edition, is hereby amended by inserting after the words “market rate units”, in line 14 the following words:- and affordable units. 
	SECTION 5. Said section 1 of said chapter 40V, as  appearing in the 2022 Official Edition  is hereby amended by inserting after the definition of “Substantial rehabilitation” the following definition:- “Mixed income development”, a development with not more than 80 per cent market rate units and not less than 20 per cent affordable units.“ 
	 SECTION 6.  Clause (iv) of subsection (a) of said section 4 of said chapter 40V, as appearing in the 2022 Official Edition, is hereby further amended by inserting after the words “market rate units”, in line 8, the following words:- and not less than 20 per cent affordable units. 
	SECTION 7. Section 5 of said chapter 40V, as appearing as appearing in the 2022 Official Edition, is hereby amended by inserting after the words “market rate units”, in line 4, the following words:- and affordable units. 
	SECTION 8. Clause (iii) of said section 5 of said chapter 40V, as appearing in the 2022 Official Edition,  is hereby amended by inserting after the words “market rate units”, in line 14 the following words:- and affordable units.