Budget Amendment ID: FY2016-S3-483

ECO 483

Housing Preservation and Stabilization Trust Fund

Mr. Eldridge moved that the proposed new text be amended in Section 70 by striking the words “Notwithstanding any general or special law to the contrary, the Massachusetts Housing Finance Agency shall, not later than June 30, 2016, transfer to the comptroller to be credited to the General Fund for fiscal year 2016 the following amounts: (i) $4,000,000 from funds previously appropriated or loans repaid that the agency administers on behalf of the commonwealth pursuant to item 1231-1020 of section 2 of chapter 151 of the acts of 1996, added by section 54 of chapter 365 of the acts of 1996; and (ii) $2,500,000 from funds previously appropriated that the agency administers on behalf of the commonwealth as a result of the lead abatement program established in section 197E of chapter 111 of the GeneralLaws.” and inserting in place thereof the following words:- 

“(a)Notwithstanding any general or special law to the contrary, the Massachusetts Housing Finance Agency shall, on or before June 30, 2016, transfer $4,000,000 from funds previously appropriated, or loans repaid, that the agency administers on behalf of the commonwealth as a result of the program established pursuant to item 1231-1020 as created by section 72 of chapter 365 of the acts of 1996, and $2,500,000 from funds previously appropriated that the agency administers on behalf of the commonwealth as a result of the program established pursuant to section 197E of chapter 111 of the General Laws, to the comptroller to be credited to the Housing Preservation and Stabilization Trust Fund for fiscal year 2016.

(b) Notwithstanding any general or special law to the contrary, the comptroller shall, on or before June 30, 2016, transfer $3,500,000 from the General Fund to the Housing Preservation and Stabilization Trust Fund.”