Amendment #1330 to H4000

Crumbling Concrete Assistance Fund

Mr. Ashe of Longmeadow moves to amend the bill in section 2 by inserting after item 7004-9038 the following item:

"XXXX-XXXX” There shall be a Crumbling Concrete Assistance Fund, which shall be administered by the secretary of housing and livable communities. The fund shall be expended, without further appropriation to: (i) provide financial assistance to owners of residential real property for the repair or replacement of concrete foundations of such residential real property that have deteriorated due to the presence of pyrite or pyrrhotite; (ii) minimize negative fiscal impacts on municipalities in which such property is located; and (iii) reimburse the owner of a residential real property that presents satisfactory evidence, as determined by the secretary, that said owner has paid for and replaced their concrete foundation that deteriorated due to the presence of pyrite or pyrrhotite prior to the establishment of the fund; provided, however, that the reimbursement shall not exceed the funding the owner would have received had they applied for financial assistance through the fund. The secretary shall seek to maximize available federal reimbursements for money spent from the fund; provide further, the fund shall be credited with: (i) appropriations or other money authorized by the general court and specifically designated to be credited to the fund; (ii) funds from public and private sources, including, but not limited to, gifts, grants, donations and settlements received by the commonwealth that are specifically designated to be credited to the fund; (iii) interest earned on the assets of the fund. Any balance in the fund at the close of a fiscal year shall be available for expenditure in subsequent fiscal years and shall not be transferred to any other fund or revert to the General Fund; provided further, the secretary of housing and livable communities may apply for, receive and deposit any federal funds, including, but not limited to, funds made available by the United States Department of Housing and Urban Development Section 108 Loan Guarantee program, into the fund; provided further, that amounts issued from the fund to impacted homeowners for the repair or replacement of concrete foundations that have deteriorated due to the presence of pyrrhotite shall be exempt from taxation under chapter 62; provided further that annually, not later than June 1, the secretary of housing and livable communities shall report on the activities of the fund from the previous calendar year to the clerks of the senate and house of representatives, the senate and house committees on ways and means, the joint committee on environment and natural resources and the joint committee on housing; and provided further, the secretary of housing and livable communities shall promulgate regulations or issue other guidance to set rules for the expenditure of the funds under this section……….……………...……$100,000,000

Additional co-sponsor(s) added to Amendment #1330 to H4000

Crumbling Concrete Assistance Fund