Amendment #831 to H3800

MSBA Grant Limits

Ms. Peisch of Wellesley moves to amend the bill by inserting the following section:-

"Section XXXX. Chapter 70B of the General Laws, as appearing in the 2016 Official Edition, is hereby amended by striking out section 7 and inserting in place thereof the following section:-

Section 7. There shall be a limit on the estimated amount of grants approved by the authority during a fiscal year. For fiscal year 2008, that limit shall be $500,000,000 and for fiscal year 2020, that limit shall be $750,000,000. For each fiscal year thereafter, the limit shall be the limit for the previous fiscal year plus the lower of the rate of growth in the dedicated sales tax revenue amount, as defined in subsection (a) of section 35BB of chapter 10, or 4.5 per cent".

Additional co-sponsor(s) added to Amendment #831 to H3800

MSBA Grant Limits