SECTION 1.  Notwithstanding section fifty-three of chapter forty-four of the General Laws or any other general or special law to the contrary, the city of Marlborough shall establish in the city treasury a special revenue account to be known as the Business and Economic Development Special Revenue Fund of the city of Marlborough, into which account shall be deposited certain receipts comprising a portion of the total local room occupancy tax received annually by the city under section three A of chapter sixty-four G of the General Laws, as set forth in section 2 herein.  The purpose of this act, and of the Business and Economic Development Special Revenue Fund, shall be to promote and to sustain the development of business and the local economy in the city of Marlborough.

SECTION 2.Notwithstanding the provisions of any general or special law to the contrary, the amount of the room occupancy excise based on a rate in excess of 4% collected under section three A of chapter sixty-four G of the General Laws by the city of Marlborough shall be credited to the Business and Economic Development Special Revenue Fund, and shall be subject to further appropriation by a majority vote of the city council of the city of Marlborough.

SECTION 3. Notwithstanding the provisions of any general or special law to the contrary, the amount of the room occupancy excise based on a rate equal to 4% collected under section three A of chapter sixty-four G of the General Laws by the city of Marlborough for the fiscal year beginning July 1, 2011 and each fiscal year thereafter shall be credited to the General Fund of the city of Marlborough.

SECTION 4. Notwithstanding the provisions of any general or special law to the contrary, any

interest accruing on any amount on deposit in the Business and Economic Development Special

Revenue Fund shall be credited to the General Fund in the city of Marlborough.

SECTION 5.Nothing in or resulting from this act shall affect amounts distributed in any fiscal year to the city of Marlborough from the Local Aid Fund.

SECTION 6.If the city of Marlborough revokes, by a majority vote of the city council of the city pursuant to section three A of chapter sixty-four G of the General Laws and sections (2)(h) and (2)(i) of 830 Code of Massachusetts Regulations Part 64G.3A.1, its acceptance of the room occupancy excise rate in excess of 4% under section three A of chapter sixty-four G of the General Laws, then the city of Marlborough shall thereupon decide, by a two-thirds vote of the city council of the city, the separate question whether the Business and Economic Development Special Revenue Fund shall cease to have effect in the city.  If two-thirds of the city council of the city votes that the Business and Economic Development Special Revenue Fund shall cease to have effect in the city, all unexpended and uncommitted amounts on deposit in the said Fund, as of the date of the vote to revoke the rate in excess of 4%, shall be credited to the General Fund of the city on the first day of the calendar quarter following 30 days after the date of the revocatory vote, pursuant to section (2)(i) of 830 Code of Massachusetts Regulations Part 64G.3A.1; however, if two-thirds of the city council of the city does not vote that the Business and Economic Development Special Revenue Fund shall cease to have effect in the city, the said Fund shall continue to have effect in the city, and all unexpended and uncommitted amounts on deposit in the said Fund, as of the date of the vote to revoke the rate in excess of 4%, shall be subject to further appropriation by a majority vote of the city council of the city of Marlborough.

SECTION 7.The city of Marlborough may amend this act by a two-thirds vote of the city council of the city of Marlborough.  Such amendatory vote shall designate a) that the Business and Economic Development Special Revenue Fund shall thereupon cease to have effect in the city of Marlborough; b) that all unexpended and uncommitted amounts on deposit in the Business and Economic Development Special Revenue Fund, as of the date of said amendatory vote, shall forthwith be credited to the General Fund of the city of Marlborough; and c) that the portion of the total room occupancy excise in excess of 4% received annually by the city of Marlborough under section three A of chapter sixty-four G of the General Laws and theretofore credited to the Business and Economic Development Special Revenue Fund, as set forth in section 2 herein, shall thereafter be credited to the General Fund of the city.

SECTION 8.This act shall take effect upon its passage.