SECTION 1.  Section 10 of chapter 40A of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out the third paragraph and inserting in place thereof the the following new paragraph:–

If the rights authorized by a variance are not exercised within one year of the date of grant of such variance, which shall not include such time required to pursue or await the determination of an appeal referred to in section seventeen, such rights shall lapse; provided, however, that the permit granting authority in its discretion and upon written application by the grantee of such rights may extend the time for exercise of such rights for a period not to exceed six months; and provided, further, that the application for such extension is filed with such permit granting authority prior to the expiration of such one year period. If the permit granting authority does not grant such extension within thirty days of the date of application therefor, and upon the expiration of the original one year period, such rights may be reestablished only after notice and a new hearing pursuant to the provisions of this section.