March 7, 2013: As they do each year, the Department fo Revenue will issue a statement in mid to late March of what communities can expect to receive from the statewide CPA trust fund in the Fall.
After suffering declines in year-over-year revenue early in 2012, the Massachusetts Community Preservation Trust Fund has made a strong comeback during the past eleven months, capped by a 10% increase in collections for January. For more information, view our detailed report.
Since March 2012, the Trust Fund has posted impressive year-over-year gains. According to data from the Massachusetts Department of Revenue (DOR), March 2012 revenues were 15% greater than March 2011, April was up 18%, May was up 26%, June and August were up 34%, September was up 37%, October, 17%, November 25%, December 8%, and January 10%. DOR reports these figures every month on their "Blue Book" webpage.
These increases alone will not be enough to significantly raise the percentage match for CPA communities. However, as a result of the CPA legislation passed in July, the state will add $25 million from the FY 2013 budget surplus to the CPA Trust Fund in time for the Fall 2013 distribution to municipalities. Although the legislation adds the $25 million just once, legislative leaders have indicated their intention to include $25 million from the budget surplus in subsequent years, as well.