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Bill > H4609
MA H4609
MA H4609Relative to excise tax revenue for the Chatham other post-employment benefits liability trust fund
summary
Introduced
06/13/2018
06/13/2018
In Committee
06/13/2018
06/13/2018
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
That the town of Chatham be authorized to establish an additional excise tax on real property in said town to fund the other post-employment benefits liability trust fund of said town. Revenue. [Local Approval Received.]
AI Summary
This bill authorizes the town of Chatham to establish an additional 1.5% excise tax on real property in the town to fund the town's Other Post-Employment Benefits (OPEB) Liability Trust Fund. The additional revenue from this excise tax must be deposited into the OPEB Liability Trust Fund and can only be used for the purposes set forth in the law. The excise tax authority will expire after 10 fiscal years, but can be extended by a vote of the town's town meeting if the OPEB Liability Trust Fund is not projected to be self-sustaining by that time. The town can also terminate the excise tax authority prior to the 10-year expiration upon request of the Board of Selectmen.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a new draft, see H4781 (on 07/19/2018)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/H4609 |
| Bill | https://malegislature.gov/Bills/190/H4609.pdf |
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