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Coalition urges $300M annual revenue for housing and climate in ‘AHEAD’ bill
Summary
Advocates from community development corporations, regional planning councils, environmental groups and tenant organizers told the Joint Committee the AHEAD Act (H.3194/S.1973) would raise the real‑estate excise rate to generate roughly $300 million annually split between affordable housing and climate adaptation and mitigation programs.
A coalition of housing and environmental groups asked the Joint Committee on Revenue to report favorably on the AHEAD Act (H.3194/S.1973), a bill that would raise the real‑estate transfer excise rate from 0.456% to 0.912% and direct half the new revenue to climate initiatives and half to housing programs, proponents said.
Nathaniel Shea, director of public policy at the Massachusetts Association of Community Development Corporations, told the committee the proposal would generate a more sustainable revenue stream for climate resilience and affordable‑housing trust funds. The bill’s sponsors estimate roughly $300…
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