Act to Sustain Community Preservation Revenue (SD670/HD2943)
Support the Community Preservation Act!
A bill called “An Act to Sustain Community Preservation Revenue” was filed in January 2015 by Senator Cynthia Stone Creem (SD670) and Representative Stephen Kulik (HD2943). The Massachusetts Community Preservation Trust provides annual matching funds to all 158 municipalities that have adopted the Community Preservation Act. The Fund derives its revenues from fees collected at the Registries of Deeds.
Due to the decline in real estate transactions over the past few years, the annual distribution for CPA communities is expected to drop below 20% in 2015. This legislation proposes to adjust the document recording fees at the Registries of Deeds in Massachusetts so that all municipalities will receive at least a 50% match. Since CPA was enacted in 2001, the recording fee has never been adjusted.