05/06/2019 Annual Town Meeting - Laserfiche WebLink

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Motion passes at 8:48 PM. Article 9 To see if the Town will vote to accept Paragraph 4 of Chapter 40, Section 5B of the General Laws and dedicate, without further appropriation, into a special purpose Capital Expenditure Stabilization Fund, created hereby for the purposes of implementation of the Town's wastewater management program, affordable housing, and transportation improvements, seventy-five percent of the local option rooms excise tax that the Town receives on the transfer of occupancy of a room in a bed and breakfast establishment, hotel, lodging house, short-term rental or motel,pursuant to its acceptance of General Laws Chapter 64G, Section 3A, as amended by Chapter 337 of the Acts of 2018;provided that said dedication shall take effect beginning in Fiscal Year 2020 which begins on July 1, 2019; and provided further that the Town shall not revoke its acceptance of said dedication for at least three fiscal years; or to take any other action relating thereto. Submitted by the Board of Selectmen Explanation: The Municipal Modernization Act adopted in 2016 allows a Town which accepts G.L. c. 40, §5B, to dedicate not less than 25% of the local rooms excise tax to any stabilization fund. This would include any new revenue generated from short-term rentals. The Town must accept paragraph 4 of§5B at Town Meeting, establish the stabilization fund(if an appropriate one does not already exist), and designate the percentage of the room excise (not less than 25%) to be deposited in the stabilization fund. No further appropriation into the fund is required to dedicate the funds. As with any appropriation from a stabilization fund, a two-thirds vote is required by Town Meeting. Once a town accepts the stabilization fund dedication statute, the Town cannot revoke its acceptance for at least three fiscal years. This article creates a special purpose stabilization fund for clean water projects, transportation improvements and affordable housing, and directs 75% of short term rental tax receipts to this fund to offset the cost of said capital expenditures on the property tax. The Board of Selectmen recommends approval of Article 9 by a vote of3-2. The Finance Committee does not recommend approval of Article 9 by a vote of4-1. Motion made by Selectman John Cotton. Motion: I move the Town vote to accept Paragraph 4 of Chapter 40, Section 5B of the General Laws and dedicate, without further appropriation, into a special purpose Capital Expenditure Stabilization Fund, created hereby for the purposes of implementation of the Town's wastewater management program, affordable housing, and transportation improvements, seventy-five percent of the local option rooms excise tax that the Town receives on the transfer of occupancy of a room in a bed and breakfast establishment, hotel, lodging house, short-term rental or motel, pursuant to its acceptance of General Laws Chapter 64G, Section 3A, as amended by Chapter 337 of the Acts of 2018;provided that said dedication shall take effect beginning in Fiscal Year 2020 which begins on July 1, 2019; and provided further that the Town shall not revoke its acceptance of said dedication for at least three fiscal years. Motion made to amend from 75 percent to 100 percent 13