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Governor Baker Signs FY20 Budget with CPA Funding Increase

Posted on: July 31, 2019 - 1:20pm

Governor Baker Signs the FY20 Budget with CPA Funding IncreaseThe Coalition is thrilled to report that as of this morning, Governor Baker has officially signed the FY20 state budget, including the long-awaited permanent increase to the CPA Trust Fund.

The Governor made no amendments or vetoes to the CPA sections included in the budget - this means that beginning in 2020, this legislation will increase the recording fees at the Registries of Deeds which provide revenue to the statewide CPA Trust Fund. This increase is expected to raise an estimated $36 million in additional revenue for CPA communities each year.

We are also happy to report that the budget additionally included language that would provide up to $20 million in budget surplus funds for the November 2019 CPA Trust Fund distribution. Should a budget surplus be available, these funds would avoid a record-low disbursement this year. More details will be available regarding the budget surplus funds in the fall.

We are grateful to Governor Baker for his support of CPA, as well as the members of the legislature that worked towards making this improvement to the Community Preservation Act possible, including:

Longtime CPA champion Senator Cynthia Stone Creem as well as Representative Ann-Margaret Ferrante; House Ways & Means Chair Aaron Michlewitz and Senate Ways & Means Chair Michael Rodrigues; Speaker of the House Robert DeLeo and Senate President Karen Spilka, and the 100+ members of the legislature who supported CPA. Special thanks to former Representative Steven Kulik, who championed this legislation in the House for years, laying the groundwork for the success we’ve seen today.

What was included in the Final FY20 Budget for CPA?

SECTION 29. Section 8 of chapter 44B of the General Laws, as so appearing, is hereby amended by striking out, in lines 3, 8 and 23, the figure “$20” and inserting in place thereof, in each instance, the following figure:- $50.

SECTION 30. Said section 8 of said chapter 44B, as so appearing, is hereby further amended by striking out, in lines 10, 14 and 24, the figure “$10” and inserting in place thereof, in each instance, the following figure:- $25.

SECTION 81. Notwithstanding any general or special law to the contrary, prior to transferring the consolidated net surplus in the budgetary funds to the Commonwealth Stabilization Fund pursuant to section 5C of chapter 29 of the General Laws, the comptroller shall dispose of the consolidated net surplus in the budgetary funds for fiscal year 2019 in the following order of precedence: (i) an amount not more than $10,000,000, to the Massachusetts Life Sciences Investment Fund established in section 6 of chapter 23I of the General Laws; and (ii) an amount not more than $20,000,000, to the Massachusetts Community Preservation Trust  Fund established in section 9 of chapter 44B of the General Laws.

SECTION 105. The commissioner of revenue shall notify the registers of deeds, the assistant recorders and the joint committee on revenue of the new surcharge amounts established in sections 29 and 30. All documents or instruments received by the registers of deeds and assistant recorders that are postmarked prior to the effective date of said sections 29 and 30 shall be subject to the fee surcharge applicable under section 8 of chapter 44B of the General Laws that was in effect before that date.

SECTION 107. Sections 29 and 30 shall take effect on December 31, 2019.

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