Bill > H3882

This bill authorizes the town of Dedham to deposit revenue collected from the local meals excise (a tax on restaurant meals) and the local room occupancy tax (a tax on hotel stays) directly into a special fund called the Robin Reyes Major Capital Facilities Stabilization Fund, which is designated for major facility improvements, replacements, new facilities, or paying off debt for these purposes. The bill also outlines reporting requirements for the amount of money available in this fund, allows the town's finance director to create policies for its implementation, and includes specific provisions for fiscal years 2016 and 2017 where only a portion of the collected revenue will go into the fund, with the rest going to the General Fund. Furthermore, it establishes that any changes to the purpose of the Robin Reyes Fund require a two-thirds vote of town meeting, with specific recommendations from town officials, and also allows for the fund to be dissolved with a similar vote, after which all collected revenue would revert to the General Fund.