AN ACT REGULATING SEWER BETTERMENT ASSESSMENTS IN THE COMMONWEALTH.
Whereas, The deferred operation of this act would tend to defeat its purpose, which is to authorize forthwith cities and towns to collect interest on unpaid sewer betterment assessments, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same as follows:
Chapter 83 of the General Laws is hereby amended by inserting after section 15B the following 2 sections:-
Section 15C. Notwithstanding any general or special law to the contrary, a city or town that accepts this section may assess and collect interest on an unpaid balance of a sewer betterment assessment at a rate up to 2 per cent above the net rate of interest chargeable to the city or town for the project to which the assessment relates.
Section 15D. Notwithstanding any general or special law to the contrary, a city or town that accepts this section may apportion all future sewer assessments or unpaid balances of assessments over a period not to exceed 30 years, and may structure the payments so that the amounts payable in the several years for principal and interest combined are as nearly equal as practicable. These equal payments may be further apportioned and collected by the city or town on quarterly tax bills at the option of the city or town. An owner of land assessed may pay the total remaining principal amount due without a prepayment penalty.
Approved, January 14, 2016.