The proposed bill aims to expand housing opportunities in Massachusetts through a new framework for homesharing. It introduces Chapter 186B, which defines key terms such as "homesharing provider," "homesharer," and "homesharing property." The bill establishes a voluntary homesharing program overseen by the Executive Office of Housing and Livable Communities (EOHLC), allowing for legally permissible residential use of homesharing properties. It outlines the requirements for a homesharing agreement, including terms for rent, shared spaces, and services provided by the homesharer, while exempting these agreements from existing landlord-tenant laws. Additionally, a Homesharing Opportunity Relief Fund is created to assist participants in case of failed agreements or emergencies.

Furthermore, the bill mandates that homesharing providers maintain specific insurance coverage, including a homesharing insurance rider with a minimum of $1,000,000 in property and liability coverage. Homesharers are also required to have renters insurance with a minimum of $100,000 in personal property protection and liability. The EOHLC is tasked with developing regulations to ensure the safety and oversight of the homesharing program, including background checks and compliance with state sanitary codes. Overall, the bill seeks to facilitate affordable housing options while ensuring the protection and rights of both homesharing providers and homesharers.