MA H4325

Bill

Relative to the financial condition of the city of Lynn

Introduced
03/22/2018

In Committee

Crossed Over
03/26/2018

Passed
03/26/2018

Dead

Signed/Enacted/Adopted
03/27/2018

Introduced Session

190th General Court

Bill Summary

Substituted by the House, on motion of Mr. Cahill of Lynn, for a bill with the same title (House, No. 4302). March 22, 2018.

AI Summary

This bill makes several changes to the financial management of the city of Lynn, Massachusetts. The key provisions include: 1. Allowing the city council to borrow up to $14 million to achieve a balanced budget in fiscal years 2018 and 2019, with oversight from the state Department of Revenue. 2. Requiring the city to establish a Supplemental Reserve Fund to Ensure Fiscal Stability, with annual contributions that increase over time to 1% of the prior year's budget. 3. Appointing a fiscal stability officer to advise the city on fiscal policies, budgeting, and contracts. 4. Establishing a health insurance working group to review and make recommendations on employee and retiree health benefits. 5. Allowing the city to consolidate the treasurer and collector positions and attribute certain school personnel costs towards net school spending. 6. Authorizing the city to establish a fee for municipal solid waste collection, disposal, and recycling services. Overall, the bill aims to improve the city's financial management and long-term fiscal stability through a combination of state oversight, budgetary controls, and operational changes.

Sponsors (1)

Dan Cahill (D),

Last Action

Signed by the Governor, Chapter 58 of the Acts of 2018 (on 03/27/2018)

Official Document

https://malegislature.gov/Bills/190/H4325

(5 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/190/H4325
Bill	https://malegislature.gov/Bills/190/H4325.pdf

Bill	Bill Name	Last Action	Type
H3786	Amending the act establishing a Department of Inspectional Services in the city of Lynn	Read second and ordered to a third reading	Similar To
H4265	Authorizing the commissioner of Capital Asset Management and Maintenance to convey a certain parcel of land in the city of Lynn to the Neighborhood Development Associates, Inc	Signed by the Governor, Chapter 189 of the Acts of 2018	Similar To
H4268	Amending the authorization for the exchange of an easement in the control of the Department of Conservation and Recreation to facilitate a project important to the economic development of the city of Lynn	Signed by the Governor, Chapter 169 of the Acts of 2018	Similar To
H4302	Relative to the financial condition of the city of Lynn	Amended by substitution of a bill with the same title, H4325	Similar To
S2222	Relative to quarterly taxes in the City of Lynn	Signed by the Governor, Chapter 165 of the Acts of 2017	Similar To

Bill > H4325

MA H4325

summary

Introduced Session

Bill Summary

AI Summary

Sponsors (1)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary