Bill > H4774

This bill establishes the City of Cambridge Employment and Job Training Trust, a specialized municipal organization designed to create and maintain employment opportunities for Cambridge residents through job training services. The trust will be governed by a board of 5-9 trustees, including the city manager or their designee, with members appointed by the city manager and designated as public agents. The board will have broad powers to receive and manage funds, make grants and loans, accept property, employ advisors, and conduct various financial transactions to support its employment and job training mission. The trust is considered a public employer and municipal agency, exempt from certain tax requirements, and will be subject to annual independent audits. The board must file annual reports with the city manager detailing its activities and financial transactions, and the trust's declaration of trust must be filed with the Cambridge city clerk. The trust can receive funds from public and private sources, including potential contributions related to the city's zoning ordinance, and any unspent funds will remain trust property from year to year. The act will take effect immediately upon passage, providing a new mechanism for supporting local employment and job training efforts in Cambridge.

https://malegislature.gov/Bills/194/H4774