§ 2 — Supporting Housing Pool Fund; purpose; credits

Massachusetts § 2

• Jurisdiction: Massachusetts
• Part I: ADMINISTRATION OF THE GOVERNMENT
• Title XVII: PUBLIC WELFARE
• Ch. 121H: SUPPORTIVE HOUSING POOL FUND

Text

[ Text of section added by 2024, 150, Sec. 44 effective August 6, 2024.]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.