By Mr. Greene of Billerica, petition (accompanied by bill, House, No. 1231) of William G. Greene, Jr., for legislation to protect low and moderate income housing.  Housing.

The Commonwealth of Massachusetts

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PETITION OF:

William G. Greene, Jr.

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In the Year Two Thousand and Seven.

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An Act relative to protecting low and moderate income housing.

    Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1.  Section 20 of Chapter 40B of the 2002 Official Edition of the General Laws is hereby amended by striking out in line 9 the words “or limited dividend” and in lines 13 to 18 the words “or for a limited dividend organization to proceed and still realize a reasonable return in building or operating such housing within the limitations set by the subsidizing agency of government on the size or character of the development or on the amount or nature of the subsidy or on the tenants, rentals and income permissible,” and in lines 19 to 29 the words “or limited dividend organization”.

SECTION 2. Section 21 of Chapter 40B of the 2002 Official Edition of the General Laws is hereby amended by striking out in line 1 the words “or limited dividend”.