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 clause (4) of the third paragraph of section 53E½ of chapter 44 of the General Laws, the town of Hanover may establish a Revolving Fund for the parks and recreation department from which the town may expend an amount in excess of 1 per cent of the amount raised by taxation in the town of Hanover in the most recent fiscal year for which a tax rate has been certified, provided that said fund complies in all other respects with said section 53E½ of said chapter 44.

SECTION 2. This act shall take effect upon its passage.

Approved, May 16, 2012.

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