Bill > H718

This bill amends Section 2Z of Chapter 29 of the General Laws to clarify how relief is provided for annual debt service obligations related to wastewater treatment projects under the Commonwealth Sewer Rate Relief Fund. Previously, an "issuer" (defined as a city, town, district, commission, agency, authority, board, or other entity responsible for wastewater treatment projects and financing them through "eligible indebtedness," which refers to specific types of loans or bonds) could not receive more than 20% of its annual debt service obligations as relief. This bill changes the wording to state that an issuer "shall receive relief authorized by this section at a rate of 20 per cent of its annual debt service obligations due to eligible indebtedness," meaning the relief is now set at exactly 20% rather than being capped at that amount.