Section 2: Supporting Housing Pool Fund; purpose; credits
222 words·~1 min read·
/ma/part-i/title-xvii/chapter-121h/2·A research copy — for the controlling text, always check the official state or federal source. Not legal advice.
Section 2.
(a)There shall be a Supportive Housing Pool Fund to support the production of permanent supportive housing. The fund shall be administered by the executive office directly or through contracts with 1 or more of the following administering agencies:
(i)the Community Economic Development Assistance Corporation, established in chapter 40H;
(ii)the Massachusetts Housing Partnership Fund, established in section 35 of chapter 405 of the acts of 1985; or
(iii)the Massachusetts Housing Finance Agency, established in chapter 708 of the acts of 1966; provided, that an administering agency may directly offer financial assistance for the purposes pursuant to this section or may enter into subcontracts with non-profit organizations established pursuant to chapter 180 for those purposes; and provided further, that the administering agency may establish additional program requirements through regulations or policy guidelines.
(b)There shall be credited to the fund:
(i)revenue from appropriations or other money authorized by the general court and specifically designated for the fund;
(ii)any gifts, grants, private contributions, repayment of loans, fees and charges imposed relative to the making of loans, grants, subsidies, credit enhancements and other financial assistance;
(iii)any investment income earned on the fund's assets; and
(iv)any other sources. Money remaining in the fund at the end of a fiscal year shall not revert to the General Fund.