SENATE DOCKET, NO. 2010 FILED ON: 1/16/2009
SENATE . . . . . . . . . . . . . . No. 656
The Commonwealth of Massachusetts
_______________
PRESENTED BY:
Robert A. O'Leary
_______________
To the Honorable Senate and House of
Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the passage of the accompanying bill:
An Act Relative to Strengthening the Cost Certification Process o
f 40B .
_______________
PETITION OF:
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Name:
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District/Address:
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Robert A. O'Leary
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Cape and Islands
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Susan C. Tucker
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Second Essex and Middlesex
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Bruce E. Tarr
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First Essex and Middlesex
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The Commonwealth of Massachusetts
_______________
In the Year Two
Thousand and Nine
_______________
An Act Relative to Strengthening the Cost Certification Process of 40B .
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
SECTION
1.
Section 20 of chapter 40B of the general laws, as appearing in the 2006 official e
dition, is hereby
amended by inserting, at the end thereof, the following: -
“Immediate Family”, the spouse
of a developer, and their parents, children, brothers, sis
ters, sons-in-law, daughters-in-law, aunts, uncles,
grandparents, step-children,
nieces and nephews.
“Related Party”, the immediate family
of a developer
, or any entity in which the developer or his immediate family has at least a five percent financial
interest.
“Related Party Transactions”, a development-related transaction between a developer and a related party.
SECTION 2.
Said chapter 40B of the general laws, as so appearing, is hereby further amended by inserting, after section 23, the following
new sections:-
Section 23A.
All documents submitted by the developer to the department, municipality, subsidizing agency, or project administrator shall be
prepare
d
and sign
ed
, under the pains and penalties of perjury
.
Section 23B.
(a) A
developer of a d
evelopment that the department determines earned profits that exceed the applicable reasonable return
, as defined by regulations issued by the department,
shall be personally liable for the amount by which the profit exceeds the reasonable return, payable
to the municipality
in which the project is sited.
(b) A penalty shall be assessed against a developer who does not submit a certified cost and income statement
pursuant to guidelines issued by the department
. Such penalty shall be
not less than
one per
cent of the total projected development costs for certified cost and income statements
.
Developers with outstanding certified cost and income statements shall not be allowed to apply for a comprehensive permit in the commonwealth until such time as the out
standing certified cost and income statements are submitted.
