Be it enacted by the Senate and House of Representatives
in General Court assembled, and by the authority of the same,
SECTION 1. Notwithstanding any general or special law to the contrary, the commissioner of revenue is hereby authorized to approve the use of an amortization amount by the city of Chelsea in fixing its tax rate for the fiscal year ending on June thirtieth, nineteen hundred and ninety-one as an estimated receipt in addition to the estimated receipts approved under the provisions of section twenty-three of chapter fifty-nine of the General Laws, and to certify the city's tax rate for that fiscal year based upon the use of such an amortization amount.
SECTION 2. Notwithstanding any general or special law to the contrary, the city of Chelsea is hereby required to raise in its tax rate for each of the fiscal years nineteen hundred and ninety-two through nineteen hundred and ninety-five, inclusive, one-fourth of the amortization amount used as an estimated receipt by the city under the provisions of section one.
SECTION 3. This act shall take effect upon its passage.