Bill
Bill > H4905
MA H4905
Relative to the City of Methuen's petition to borrow to address the school budget deficit
summary
Introduced
09/10/2018
09/10/2018
In Committee
10/18/2018
10/18/2018
Crossed Over
10/18/2018
10/18/2018
Passed
10/22/2018
10/22/2018
Dead
Signed/Enacted/Adopted
10/31/2018
10/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to the school budget deficit in the city of Methuen. Municipalities and Regional Government. [Local Approval Received.]
AI Summary
This bill allows the City of Methuen to borrow up to $4 million to address a school budget deficit for fiscal years 2019 and 2020. It establishes a new Department of Administration and Finance, led by a Chief Administrative and Financial Officer, to oversee the city's financial operations, including those of the school department. The bill also provides for the appointment of a Fiscal Stability Officer and, if necessary, a Fiscal Overseer and Finance Control Board to assist the city in managing its fiscal challenges. The bill imposes various reporting and oversight requirements on the city as long as the debt authorized by the bill remains outstanding.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (3)
Last Action
Signed by the Governor, Chapter 278 of the Acts of 2018 (on 10/31/2018)
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/H4905 |
| Bill | https://malegislature.gov/Bills/190/H4905.pdf |
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