Bill > H3662

This bill aims to sustain community preservation revenue in Massachusetts. It amends Chapter 44B of the General Laws to require the Commissioner of Revenue to determine if the Massachusetts Community Preservation Trust Fund balance is sufficient to provide a 50% first-round match distribution to all eligible cities and towns. If the balance is insufficient, the bill authorizes the Commissioner to increase the surcharges under Section 8 to ensure the 50% match can be maintained. The bill also requires the Commissioner to notify relevant parties of any surcharge changes at least 60 days prior. Additionally, the bill expands the applicability of the surcharges to include the filing of subordinate mortgages by public agencies or quasi-public agencies, such as municipalities or the Massachusetts Housing Partnership.

Budget and Finance

https://malegislature.gov/Bills/190/H3662