DOR Issues Estimate for Fall 2016
CPA Trust Fund Distribution
Tuesday, April 12th, 2016
 
Dear :
 
The Department of Revenue's annual budget memo to municipalities has been released and it includes an estimate of 19% for the November 2016 first round CPA Trust Fund distribution. Cities and towns that adopted a surcharge of 3% will receive additional funding in rounds two and three. Here is the text on the CPA portion of the memo:

During FY2016, 158 cities and towns collected the local Community Preservation Act (CPA) surcharge and are eligible for state matching grants in FY2017. DLS estimates that the balance in the state trust fund will be sufficient to provide a first round match of 19% of the surcharge levied by each city and town.

In FY2016, there will be equity and surplus distributions for those cities and towns that have adopted the maximum 3% surcharge. With these additional distributions, the total state reimbursement for qualifying cities and towns will increase, depending on their decile and total surcharge amount. The above estimates are subject to change depending on Registry of Deeds collections between now and October.
Could the Distribution Be Higher Than 19%?
 
Absolutely!  Our advocacy work on Beacon Hill has brought an additional $46.4 million in state surplus funds to the CPA Trust Fund, and we're working hard to make that happen again this year.

Here's the update:  The first step in the state's annual budget process is the release of the Governor's proposed budget in late January. For the first time ever, the Governor included a recommendation to transfer $10 million in state budget surplus funds to the CPA Trust Fund.

The House Ways and Means budget is next, due to be released tomorrow, and we are asking for it to also include state surplus funding for CPA.  If it does not, we will have 48 hours to advocate for the funding to be filed as an amendment to the budget. We have lined up a legislative sponsor and numerous co-sponsors in the event that the CPA funding needs to be filed as an amendment.

We will need your help this week! Contact your State Representative and ask them to support funding for the CPA Trust Fund as a part of the FY2017 budget. We hope you will be able to help us help you!

Further Resources: