Amendment #37, as changed to H4397

Technical Changes to the Municipal Affordable Housing Trust Statute

Representatives Kulik of Worthington, Honan of Boston, Toomey of Cambridge, Decker of Cambridge, Gordon of Bedford, Provost of Somerville, Heroux of Attleboro and Barber of Somerville move to amend the bill by adding the following four sections:

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

SECTION XX. Subsection (c)(1) of section 55C of chapter 44 is hereby amended  by adding the following after ”Chapter 44B”:  “Any such money received from chapter 44B shall be used exclusively for community housing and 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 XX.  Subsection (c)(4) of section 55C of chapter 44 is hereby amended  by inserting after the word “releases” the words “, grant agreements”

SECTION XX. 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.