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Bill > H4302


MA H4302

Relative to the financial condition of the city of Lynn


summary

Introduced
03/09/2018
In Committee
03/22/2018
Crossed Over
Passed
Dead
12/31/2018

Introduced Session

190th General Court

Bill Summary

That the city of Lynn be authorized to amend the charter of said city. Municipalities and Regional Government. [Local Approval Received.]

AI Summary

This bill authorizes the city of Lynn to amend its charter to make several changes, including requiring a balanced budget, establishing a special reserve fund, appointing a fiscal stability officer to oversee the city's finances, and allowing the city to charge a municipal solid waste collection fee. The bill also provides the city with the ability to borrow up to $14 million over fiscal years 2018 and 2019 to achieve a balanced budget, subject to oversight by the state's Department of Revenue. Overall, the bill aims to address the city's financial challenges and put it on a path to long-term fiscal sustainability.

Committee Categories

Budget and Finance, Government Affairs

Sponsors (2)

Last Action

Amended by substitution of a bill with the same title, H4325 (on 03/22/2018)

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