MA S24

Bill

Authorizing the town of Milton to establish a special purpose stabilization fund

Introduced
02/21/2017

In Committee
05/01/2017

Crossed Over
07/06/2017

Passed
07/06/2017

Dead

Signed/Enacted/Adopted
07/14/2017

Introduced Session

190th General Court

Bill Summary

For legislation to authorize the town of Milton to establish a special purpose stabilization fund. Municipalities and Regional Government. [Local Approval Received.]

AI Summary

This bill authorizes the town of Milton to establish a Special Purpose Stabilization Fund to help stabilize the cost to taxpayers for the future replacement or restoration of three town fire stations and the Department of Public Works facilities. The fund can be used to supplement the town's debt payments on this exempt debt (debt that voters have approved to be excluded from Proposition 2.5 tax levy limits) when the total debt service exceeds the amount from fiscal year 2018. The fund has a cap of 2.5% of the town's annual operating budget, and will be closed once the balance is zero and the exempt debt is fully paid off.

Committee Categories

Government Affairs

Sponsors (2)

William Driscoll (D), Walter Timilty (D),

Last Action

Signed by the Governor, Chapter 43 of the Acts of 2017 (on 07/14/2017)

Official Document

https://malegislature.gov/Bills/190/S24

(9 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/S24
Bill	https://malegislature.gov/Bills/190/S24.pdf

Bill	Bill Name	Last Action	Type
H1483	To reduce the pension fund liability	Accompanied a study order, see H4244	Similar To
H1551	Relative to stabilization fund withdrawals	Accompanied a study order, see H4244	Similar To
H1621	Relative to the revenue to the stabilization fund	Accompanied a study order, see H4244	Similar To
H3638	Relative to public safety at the intersection of Brush Hill Road and Truman Parkway in Milton	No further action taken	Similar To
H3825	Relative to transfers from the General Fund to the Stabilization Fund	No further action taken	Similar To
H714	Authorizing the Department of Highways to acquire land in the city of Quincy and the town of Milton for the purpose of flood control and prevention	Accompanied a study order, see H4874	Similar To
S1818	Authorizing the lease of a certain parcel of land to the town of Milton	Hearing scheduled for 09/21/2017 from 02:00 PM-03:00 PM in 222	Similar To
S2008	Relative to the use of the Neponset Valley Parkway in the town of Milton	Accompanied a study order, see S2484	Similar To
S2369	Relative to an easement plan for the Milton Inline Inspection Project	Signed by the Governor, Chapter 212 of the Acts of 2018	Similar To

Bill > S24

MA S24

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (2)

Last Action

Official Document

bill text

bill summary

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