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Bill > S31


MA S31

MA S31
Authorizing the town of Athol to establish a special fund for the rehabilitation of certain properties


summary

Introduced
03/26/2015
In Committee
01/06/2016
Crossed Over
05/16/2016
Passed
07/07/2016
Dead
Signed/Enacted/Adopted
07/14/2016

Introduced Session

189th General Court

Bill Summary

For legislation to establish a special fund for recaptured funds from rehabilitation or receivership property liens or related grants in the town of Athol. Municipalities and Regional Government. [Local Approval Received.]

AI Summary

This bill authorizes the town of Athol to establish a special fund to manage money recovered from properties undergoing rehabilitation or receivership, as well as related grants or local funding. This fund, which can receive money collected after February 1, 2015, will allow Athol to use these recaptured funds and grants for specific purposes related to these properties without needing separate approval for each expenditure. The money in the fund can be used by the Town Manager, in consultation with a designated committee, to secure, clear, rehabilitate, provide loans for the purchase and rehabilitation of, make safe, or demolish these properties, including any associated costs. Any money left in the fund at the end of a fiscal year will carry over to the next, and interest earned will go to the town's general fund. The bill also specifies that no money can be spent or debts incurred beyond what is available in the fund.

Committee Categories

Government Affairs

Sponsors (2)

Last Action

Signed by the Governor, Chapter 143 of the Acts of 2016 (on 07/14/2016)

bill text


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