Conference Committee Deciding on CPA Trust Fund in FY19 Budget

July 5, 2018: As we reported last month, during the Senate budget debate, Senator Cynthia Stone Creem's budget amendment to increase the CPA Trust Fund was unanimously adopted. The language, calling for a $30 increase to the recording fees at the State's Registries of Deeds and thereby providing a higher state match to all CPA communities, was adopted 38-0. But since the House had rejected the same amendment during their budget debate, it is up to the Conference Committee to decide whether or not it is included in the final version of the budget.

The conference committee is comprised of six members - Representatives Sanchez, Kulik, & Smola from the House, and Senators Spilka, Lovely, & DeMacedo from the Senate. The committee has a few options available to them. They could accept the Senate language exactly as proposed - a $30 increase in the recording fees which would push the base CPA Trust Fund distribution close to 30% in FY20. They could also make changes to the language, such as reducing the fee increase, or reject the idea entirely.

Once the committee decides, their version of the bill cannot be amended by the House or Senate, so it almost always receives an immediate "yes" vote from both branches. It is then sent to Governor Baker who has 10 days to sign, but he can also veto specific provisions of the bill.

The budget conference committee is expected to announce that they have finished their work any day now, so we will be providing an update on the status of the CPA language as soon as it is available.