Code of Massachusetts Regulations
429 CMR - EXECUTIVE OFFICE OF LABOR AND WORKFORCE DEVELOPMENT
Title 429 CMR 2.00 - Manufacturing Workforce Training Tax Increment Financing (mwt-tif)
Section 2.07 - Local Approval and Implementation of MWT-TIF Plans

Universal Citation: 429 MA Code of Regs 429.2

Current through Register 1531, September 27, 2024

(1) A municipality, acting on its own behalf or in conjunction with one or more cities or towns, may adopt a MWT-TIF Plan by vote of its town meeting, town council, or city council, with the approval of the mayor where required by law, or as otherwise required by local law.

(2) A municipality may proceed with the implementation of its MWT-TIF Plan only after:

(a) each city and town proposing the MWT-TIF Plan formally adopts the MWT-TIF Plan; and

(b) the MWT-TIF Plan is approved by the EACC.

(3) The board, agency, or officer of the municipality authorized to execute MWT-TIF Agreements shall forward to the board of assessors a copy of each MWT-TIF Agreement, together with a list of the parcels.

(4) An executed and approved MWT-TIF shall be recorded in the registry of deeds or the registry district of the land court for the county wherein such land lies.

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