S580 — An Act relative to crumbling concrete foundations

Summary

An Act relative to crumbling concrete foundations

Bill Text

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The bill establishes the Crumbling Concrete Assistance Fund to support homeowners affected by crumbling concrete due to pyrite or pyrrhotite.

• Chapter 29, Section 2

  Section 2FFFFFF. (a) There shall be a Crumbling Concrete Assistance Fund, which shall be administered by the secretary of housing and livable communities. The fund shall be expended, without further appropriation to: (i) provide financial assistance to owners of residential real property for the repair or replacement of concrete foundations of such residential real property that have deteriorated due to the presence of pyrite or pyrrhotite; (ii) minimize negative fiscal impacts on municipalities in which such property is located; and (iii) reimburse the owner of a residential real property that presents satisfactory evidence, as determined by the secretary, that said owner has paid for and replaced their concrete foundation that deteriorated due to the presence of pyrite or pyrrhotite prior to the establishment of the fund; provided, however, that the reimbursement shall not exceed the funding the owner would have received had they applied for financial assistance through the fund. The secretary shall seek to maximize available federal reimbursements for money spent from the fund. The fund shall be credited with: (i) appropriations or other money authorized by the general court and specifically designated to be credited to the fund; (ii) funds from public and private sources, including, but not limited to, gifts, grants, donations and settlements received by the commonwealth that are specifically designated to be credited to the fund; (iii) federal funds received under subsection (b); and (iv) interest earned on the assets of the fund. Any balance in the fund at the close of a fiscal year shall be available for expenditure in subsequent fiscal years and shall not be transferred to any other fund or revert to the General Fund.

  This creates a new fund to assist homeowners with concrete foundation issues due to deteriorating materials.

• Chapter 29, Section 2

  (b) The secretary of housing and livable communities may apply for, receive and deposit any federal funds, including, but not limited to, funds made available by the United States Department of Housing and Urban Development Section 108 Loan Guarantee program, into the fund.

  This allows the secretary to access federal funds to support the new assistance fund.

• Chapter 29, Section 2

  (c) Amounts issued from the fund to impacted homeowners for the repair or replacement of concrete foundations that have deteriorated due to the presence of pyrrhotite shall be exempt from taxation under chapter 62.

  This exempts financial assistance received from the fund from state income tax.

• Chapter 29, Section 2

  (d) Annually, not later than June 1, the secretary of housing and livable communities shall report on the activities of the fund from the previous calendar year to the clerks of the senate and house of representatives, the senate and house committees on ways and means, the joint committee on environment and natural resources and the joint committee on housing.

  This mandates annual reporting on fund activities to ensure transparency and accountability.

• Chapter 29, Section 2

  (e) The secretary of housing and livable communities shall promulgate regulations or issue other guidance to set rules for the expenditure of the funds under this section.

  This requires the creation of regulations governing how the fund's money is spent.

• No specific citation

  The secretary of housing and livable communities shall convene a stakeholder working group to make recommendations for regulatory and legislative change necessary to comprehensively address the remediation of residential property foundations that have deteriorated due to the presence of pyrite or pyrrhotite.

  This establishes a working group to assess and propose solutions for the issues caused by pyrite and pyrrhotite.

• No specific citation

  The working group shall submit its report and any recommendations to the clerks of the senate and house of representatives, the joint committee on environment and natural resources, the joint committee on housing and the senate and house committees on ways and means not later than February 1, 2026.

  This sets a deadline for the working group to report its findings and recommendations.

Sponsors

• Peter J. Durant · Primary

Subjects