Insurance Company Reinvestment

From 1996-98, MAHA and MACDC led a campaign that resulted in the passage of An Act Insuring Community Investment and the Equitable Taxation of Insurance Companies in Massachusetts (for a copy of the law go to: http://www.mass.gov/legis/laws/seslaw98/sl980259.htm). The law set up two $100 million community investment funds; one called The Life Initiative (www.lifeinitiative.com) and the other, the Property/Casualty Initiative (www.pcifund.com). Over $170 million has been invested by member insurance companies through the funds since 1999 benefiting affordable housing and other economic development projects throughout Massachusetts.