SENATE DOCKET, NO. 883 FILED ON: 1/20/2011
SENATE . . . . . . . . . . . . . . No. 1429
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The Commonwealth of Massachusetts
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PRESENTED BY:
Sal N. DiDomenico
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act to facilitate municipality-sponsored affordable housing development.
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PETITION OF:
Name: | District/Address: |
Sal N. DiDomenico | Middlesex and Suffolk |
Denise Provost | 27th Middlesex |
SENATE DOCKET, NO. 883 FILED ON: 1/20/2011
SENATE . . . . . . . . . . . . . . No. 1429
By Mr. DiDomenico, a petition (accompanied by bill, Senate, No. 1429) of Sal N. DiDomenico and Denise Provost for legislation to facilitate municipality-sponsored affordable housing development. Revenue. |
The Commonwealth of Massachusetts
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In the Year Two Thousand Eleven
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An Act to facilitate municipality-sponsored affordable housing development.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION 1. Chapter 60 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by adding the following section:
Section 52A – Appropriation of Proceeds from the Sale of Tax Receivables
Notwithstanding any general or special law to the contrary, municipalities may deposit any funds received from the sale or assignment of tax receivables under Sections 2C or 52 of Chapter 60 into a revolving fund pursuant to Section 53E½ of Chapter 44, an Affordable Housing Trust Fund pursuant to Section 55C of Chapter 44, or any other municipal fund or account established by general or special law, without further appropriation provided that the use of said funds shall be restricted to the creation of low income housing or moderate income housing as those terms are defined under Section 2 of Chapter 44B and all related and necessary expenses thereto. Monies deposited into municipal accounts under this section may be appropriated or disbursed to public or private non-profit or limited dividend entities to create low or moderate income housing, provided that all housing created with said funds shall be bound be a permanent deed restriction that meets the requirements of Chapter 184, running with the land and enforceable by the municipality, restricting the use and occupancy of said housing to individuals and households of low or moderate income.