SECTION 1. Section 64 of chapter 59 of the General Laws, as appearing in the 2020 Official Edition, is hereby amended by striking out in line 108, the words “eight per cent” and inserting in place thereof the following words:
“a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year”
SECTION 2. Section 69 of chapter 59 of the General Laws, as so appearing, is hereby amended by striking out in line 5, the words “eight per cent” and inserting in place there of the following words:
“a rate equal to the federal funds rate as published by the Federal Reserve Bank of New York as published on July 1 of the applicable fiscal year”
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