SECTION 1.  Subsection (g) of section 4 of chapter 152 of the acts of 1997, as amended by chapter 256 of the acts of 2006, is hereby further amended by striking out paragraph (i) and inserting in place thereof the following paragraph:-

(i) The South Boston Community Development Foundation, or foundation, shall consist of a committee of 13 members: 3 members appointed by the governor who shall be business owners from the locally-impacted neighborhood; 3 members appointed by the mayor who shall be representatives of local social service agencies; the senator from the first Suffolk district or a designee, who shall be a non-voting member; the representative from the fourth Suffolk, who shall be a non-voting member;  2 members appointed by the senator from the first Suffolk district, 1 of whom shall be a veteran or active duty service member; 2 members appointed by the representative from the fourth Suffolk district, 1 of whom shall a member of the local hospitality workforce; and the Boston city councilor from district 2, or a designee; all of whom, with the exception of the elected officials, shall be residents of the South Boston section of the city of Boston, and shall serve a 2-year term which may be extended by reappointment.

The South Boston Community Development Fund shall consist of monies held in a Massachusetts Charitable Trust to be placed in a money market interest-bearing account to be administered by the South Boston Community Development Foundation.

SECTION 2. This act shall take effect on July 1, 2022.