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H.775 proposes tax stabilization, treasurer investment increase and modular housing ‘accelerator’ to spur small projects
Summary
Sponsors described H.775: a package to help small rural housing projects including a 7‑year property‑tax stabilization pilot for projects under 16 units in towns under 5,000, expanded special assessment authority, increasing the treasurer's housing allocation to 12.5%, returning loan interest to housing programs and creating an off‑site modular housing accelerator to coordinate bulk orders.
Committee sponsors presented H.775 as a multi‑pronged effort to make small housing projects financially feasible in rural communities.
Speaker 2 (Mark Mahali) described a pilot tax‑stabilization provision under which any project of fewer than 16 units in a town of 5,000 people or fewer could avoid additional property tax for seven years (with phased increases thereafter and full taxation by year 10). Mahali said the pilot would let the Joint Fiscal Office estimate the Education Fund cost and test whether projects take advantage of the credit.
H.775 would also make it easier for select boards to establish special assessment districts for development…
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