Mass. Gen. Laws ch. 70B § 7

Current through Chapters 1 to 249 and Chapters 253 to 255 of the 2024 Legislative Session

Section 70B:7 - Grant limits

There shall be a limit on the estimated amount of grants approved by the authority during a fiscal year. For fiscal year 2023, the limit shall be $1,200,000,000; provided, however, that grant amounts relating to the authority's accelerated repair program shall not count against the limit set forth in this section. For each fiscal year thereafter, the limit shall be the limit for the previous fiscal year plus the lower of: (i) the rate of growth in the dedicated sales tax revenue amount as defined in subsection (a) of section 35BB of chapter 10; or (ii) 6.5 per cent.

Mass. Gen. Laws ch. 70B, § 70B:7

Amended by Acts 2023, c. 28,§ 36, eff. 7/1/2022.

Amended by Acts 2019, c. 132,§ 16, eff. 2/24/2020.

Added by Acts 2006, c. 139,§ 47, eff. 7/1/2006.

Amended by Acts 2004, c. 208, § 22, eff. 7/26/2004.