Bill > S1556

This bill establishes the Historic Public Buildings Trust Fund, a dedicated, non-lapsing fund managed by the Massachusetts Historical Commission, to support the repair, renovation, and preservation of state-owned historic buildings, including prominent landmarks like the Massachusetts State House and the Old State House. The fund will be financed through various revenue streams, including specific tax provisions (section six L of chapter sixty-two), public and private gifts, grants, and donations, as well as federal reimbursements and grants for historic preservation activities. Additionally, the bill introduces a voluntary contribution mechanism where individuals filing tax returns can choose to donate all or part of their tax refund or add to their tax payment to this fund, with the state agreeing to match every dollar contributed by the public in the prior fiscal year with one dollar from the General Fund, subject to appropriation. The State Treasurer will manage the fund to maximize interest earnings while ensuring accessibility for withdrawals, with all accrued interest also being deposited into the fund.