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Witness proposes targeted sales‑tax waiver, removal of downtown credit cap and a housing acceleration fund
Summary
Testifying to the committee, Monroe Weinberger proposed a targeted sales‑tax waiver for new construction in Tier 1 areas to lower costs about 3%, recommended removing or raising the downtown/village tax credit cap, and pitched a one‑time revolving housing acceleration fund to sustain production amid high interest rates.
Monroe Weinberger told the Committee on General & Housing that a mix of financial incentives could accelerate housing construction in Tier 1 areas even in a constrained fiscal environment.
On incentives, Weinberger proposed a sales‑tax waiver limited to new construction in Tier 1 areas (he described Tier 1 as roughly 3% of the state's land area). He said this targeted waiver "would bring down the cost of housing by…
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