Chapter 44B of the General Laws as appearing in the 2004 Official Edition is hereby amended by adding the following new section:-

Chapter 44B:  Section 10 ½.  Linkage Programs; Neighborhood Housing Trusts.

Section 10 ½.  (a) Notwithstanding the provisions of section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, a city or town which has adopted a linkage program and has established a neighborhood housing trust under Chapter 371 of the Acts of 1987 shall be eligible to receive monies from the community preservation trust fund established under section 9 of chapter 44B of the General Laws.

(b)  The commissioner of revenue shall disburse money into a city’s neighborhood housing trust according to the provisions of section 10 of chapter 44B.  The amount of money to be disbursed shall be equal to the amount collected by a city in affordable housing exactions under chapter 371 of the acts of 1987.   

(c)  Any monies transferred from the community preservation trust fund to the neighborhood housing trust shall be used to encourage and facilitate the construction and preservation of affordable housing pursuant to the rules and regulations adopted by the neighborhood housing trust.