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. Notwithstanding the provisions of any general or special law to the contrary, the town of Ipswich is hereby authorized to establish and maintain a special fund to be known as the Open Space, Recreation and Water Supply-Watershed Protection Fund which shall be utilized for open space, recreation and water supply-watershed protection purposes.

As a means of providing available assets for the fund, all monies received by the town through the following means shall be paid over to and become part of the fund:

(a) 96 per cent of all revenues received from excise taxes paid pursuant to the provisions of section 3A of chapter 64G of the General Laws;

(b) all monies received from withdrawn penalty taxes paid pursuant to the provisions of section 7 of chapter 61 of the General Laws;

(c) all monies received from conveyance taxes paid pursuant to the provisions of section 12 of chapter 61A of the General Laws;

(d) all monies received from conveyance taxes paid pursuant to the provisions of section 7 of chapter 61B of the General Laws; and

(e) all monies received from the lease or leases of property by the town of Ipswich to telecommunication companies for the construction or attachment of wireless communications facilities.

SECTION 2. Notwithstanding the provisions of any general or special law to the contrary, the town of Ipswich is hereby authorized to establish and maintain a special fund to be known as the Tourism Development and Services Fund to be utilized for tourism development and services.

As a means of providing available assets for the fund, 4 per cent of all the revenue derived from excise taxes paid pursuant to the provisions of section 3A of chapter 64G of the General Laws shall be paid over to and become part of the fund.