Skip to Content


SENATE DOCKET, NO. 766         FILED ON: 1/17/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 350

 

The Commonwealth of Massachusetts

_________________

PRESENTED BY:

Cynthia S. Creem

_______________

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 establishing a 0% interest program for the state revolving loan fund for water and sewer projects and establishing 3:1 leveraging for such projects..

_______________

PETITION OF:

 

Name:

District/Address:

Cynthia S. Creem

First Middlesex and Norfolk

James B. Eldridge

Middlesex and Worcester


SENATE DOCKET, NO. 766        FILED ON: 1/17/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 350

By Ms. Creem, a petition (accompanied by bill, Senate, No. 350) of Cynthia S. Creem and James B. Eldridge for legislation to establish a 0% interest program for the state revolving loan fund for water and sewer projects and establishing 3:1 leveraging for such projects.  Environment, Natural Resources and Agriculture. 

 

[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 344 OF 2011-2012.]


The Commonwealth of Massachusetts
 

_______________

In the Year Two Thousand Thirteen

_______________

 

An Act establishing a 0% interest program for the state revolving loan fund for water and sewer projects and establishing 3:1 leveraging for such projects..
 

              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 159 of the Acts of 2000 is hereby amended by striking out section 57, section 58, section 371 and section 372.

              SECTION 2. Chapter 29C of the General Laws, as appearing in the 2010 Official Edition, is hereby amended by inserting after section 18 the following section: -

                              Section 19.  The water pollution abatement trust shall leverage funds in the trust for disbursement to finance projects authorized pursuant to this chapter on the basis of a three-to-one ratio.  If in the opinion of the state treasurer, such increased leveraging is not feasible, the provisions of this section shall not apply.

              SECTION 3.  Section 6 of Chapter 29C of the General Laws as so appearing, is hereby amended in the second paragraph by deleting the third sentence and inserting in place thereof the following sentence: -

              “Notwithstanding the forgoing but subject to the limit on contract assistance provided in this section, all permanent loans and other forms of financial assistance made by the trust to finance the costs of water pollution abatement projects on the departments intended use plan for calendar year 2012 and any subsequent calendar year shall provide for a subsidy or other assistance on the payment of debt service thereon such that such loans and other forms of financial assistance shall be the financial equivalent of a loan made at an interest equal to zero per cent.”

              SECTION 4.  Subsection (g) of section 18 of said Chapter 29C of the General Laws as so appearing, is hereby amended by deleting the second sentence and inserting in place thereof the following sentence: -

              “Notwithstanding the forgoing but subject to the limit on contract assistance provided in this section, all permanent loans and other forms of financial assistance made by the trust to finance the costs of drinking water projects on the departments intended use plan for calendar year 2012 and any subsequent calendar year shall provide for a subsidy or other assistance on the payment of debt service thereon such that such loans and other forms of financial assistance shall be the financial equivalent of a loan made at an interest rate equal to zero per cent.”

The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.

Error