Section 35AA: Smart Growth Housing Trust Fund
143 words·~1 min read·
/ma/part-i/title-ii/chapter-10/35aaA research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 35AA. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Smart Growth Housing Trust Fund to be used, without appropriation, by the executive office of housing and livable communities for the purpose of making payments to communities under section 10 of chapter 40R. Available revenues from the sale of state surplus lands, as provided for in law, appropriations from the General Fund and monetary sanctions imposed by the executive office of housing and livable communities under subsection
(b)of section 7 of said chapter 40R shall be deposited into the trust fund. All monies deposited into the fund shall be expended exclusively for the purpose set forth in this section. No expenditure from said fund shall cause said fund to be in deficiency at the close of a fiscal year.