MA H2501

Bill

To sustain community preservation revenue

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to further regulate expenditures for mortgages from the Community Preservation Trust Fund. Revenue.

AI Summary

This bill aims to sustain the revenue for the Community Preservation Trust Fund in Massachusetts. It requires the Commissioner of Revenue to determine if the fund's balance is sufficient to provide a 50% first-round match distribution to all cities and towns that have adopted the Community Preservation Act. If the balance is insufficient, the bill mandates the Commissioner to increase the surcharges under the Act to ensure the 50% match can be maintained. The bill also requires the Commissioner to notify relevant parties of any surcharge changes at least 60 days prior. Additionally, the bill expands the types of mortgage filings subject to the surcharge, including those from public agencies and quasi-public agencies like municipalities and the Massachusetts Housing Partnership.

Committee Categories

Budget and Finance

Sponsors (10)

Joseph Boncore (D), Nick Collins (D), Sal DiDomenico (D), Sean Garballey (D), Carlos González (D), Kevin Honan (D), Louis Kafka (D), Patrick Kearney (D), John Lawn (D), Brian Murray (D),

Last Action

Accompanied a study order, see H5128 (on 11/19/2020)

Official Document

https://malegislature.gov/Bills/191/H2501

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H2501
Bill	https://malegislature.gov/Bills/191/H2501.pdf

Bill	Bill Name	Last Action	Type
H1413	To increase transparency in the Massachusetts land record systems to protect the property rights of homeowners and businesses	Read second and ordered to a third reading	Similar To
H1543	Providing remedies to consumers for clearing title after payoff of mortgages	Accompanied a study order, see H5081	Similar To
H2430	Relative to the use of community preservation funds	Accompanied a study order, see H5128	Similar To
H2644	To sustain community preservation revenue	Accompanied a study order, see H5080	Similar To
H5128	Study Order - Revenue matters	Discharged to the committee on House Rules	Replaced by
S1618	To sustain community preservation revenue	Accompanied a study order, see H5080	Similar To
S778	Relative to local public housing authorities	Accompanied a study order, see S2527	Similar To
S836	To amend the foreclosure statute to require judicial foreclosure	Accompanied a study order, see S2496	Similar To
S925	Ensuring transparency in the recording of mortgage assignments	Accompanied a study order, see S2496	Similar To

Bill > H2501

MA H2501

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (10)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary