SECTION 1. (a) Notwithstanding section 53 of chapter 44 of the General Laws or any other general or special law to the contrary, the town of Templeton may establish a special fund for the deposit of any proceeds to the town of Templeton from funds recaptured through demolition liens and state or federal grants or local appropriations for such purpose after December 31, 2021. Interest earned on the fund shall be treated as general fund revenue for the town. Any balance remaining at the end of the fiscal year shall carry over to the next fiscal year and thereafter if not then expended for the purposes set forth in this act.

(b) Proceeds from the fund shall be used at the discretion of the Select Board without further appropriation to secure, clear, make safe or demolish, together with any associated costs, residential or mixed-use properties considered unsafe, dangerous, or unfit for human habitation under applicable building or health codes. Expenditures shall not be made and liabilities shall not be incurred in excess of the balance of the fund.

The town administrator shall annually report to the Select Board on the total amount of receipts and expenditures for the fund for the prior fiscal year and for the current fuscal year through December 31 or such later date as the Select Board may, by vote, determine, together with such other information as the Select Board may, by vote, require.

SECTION 2. This act shall take effect upon its passage.