Budget Amendment ID: FY2024-S3-647

EDU 647

Debt Limit Exception for School Building Projects

Mr. Finegold moved that the proposed new text be amended by inserting after section 18 the following section:-

“SECTION 18A. Section 10 of chapter 44 of the General Laws is hereby amended by adding at the end the following paragraph:-

Notwithstanding the provisions of this section, indebtedness authorized by a city or town to pay costs of constructing, reconstructing, equipping and furnishing a school facility for the education of school children, for which grant funds in support of such project from the Massachusetts School Building Authority are not otherwise available, and for which such city or town has voted, in accordance with paragraph (k) of section 21C of chapter 59 of the General Laws, to exclude the repayment of such indebtedness from the tax levy limitations set forth in said section 21C of the General Laws, shall not be reckoned in determining the limit of indebtedness under this section.”