Amendment #1044 to H4200

Technical Changes to the Municipal Affordable Housing Trust Statute

Representatives Honan of Boston, Barber of Somerville, Toomey of Cambridge, Rogers of Cambridge, Decker of Cambridge and Heroux of Attleboro move to amend the bill by inserting after section 50 the following sections:

"SECTION 51. Subsection (a) of section 55C of chapter 44 is hereby amended, in line 5, by adding after the word “households” the words “and for all purposes eligible for community housing funds, as defined in and in accordance with the provisions of chapter 44B.”

SECTION 52. Subsection (c)(1) of section 55C of chapter 44 s is hereby amended  by adding the following after ”Chapter 44B”:  “Any such money received from chapter 44B shall remain subject to all the rules, regulations and limitations of that chapter when expended by the trust, and such funds shall be accounted for separately by the trust.  At the end of each fiscal year, the trust shall ensure that all expenditures of funds received from chapter 44B are reported to the community preservation committee of the city or town for inclusion in the Community Preservation Initiatives Report (Form CP-3) to the department of revenue."

SECTION 53. Subsection (c)(4) of section 55C of chapter 44 is hereby amended by inserting after the word “releases” the words “, grant agreements”.

SECTION 54. This section shall be effective on July 1, 2016 and shall apply to all Chapter 44B funds held by a trust as of the effective date and to all Chapter 44B funds received by a trust after that date.”.

Additional co-sponsor(s) added to Amendment #1044 to H4200

Technical Changes to the Municipal Affordable Housing Trust Statute