An Act to promote housing cooperatives, the official text

	Chapter 40H of the General Laws is hereby amended by adding the following section:-
	Section 10. Center for Housing Cooperatives
	There is hereby established a center for housing cooperatives, herein called the center, within the executive office of housing and livable communities to promote housing cooperatives for low to moderate income people in the commonwealth. The center shall provide education, conduct outreach and promote efforts to: (i) expand and enhance cooperative resident ownership; (ii) preserve the existing and increase the number of cooperatively owned properties; (iii) publicize and promote the benefits of resident cooperative housing to policy makers and the general public; (iv) encourage collaborative outreach efforts regarding involvement and cooperative housing ownership; (v) research and evaluate cooperative housing ownership in the commonwealth; (vi) showcase cooperative housing initiatives in the commonwealth; (vii) facilitate and coordinate the sharing of existing information and resources; and (viii) provide grants pursuant to this chapter. 
	(2) There shall be established and set up on the books of the commonwealth a non-budgeted special revenue fund known as the Massachusetts center for housing cooperatives fund. The center director shall administer such fund and may make expenditures without subsequent appropriation to carry out the center’s mission. The fund may accept gifts or grants of money or property from any source to further the work of the center; provided, however, that any money received shall be expended in accordance with the conditions of such a gift or grant. Amounts remaining in the fund at the end of a fiscal year shall not revert to the General Fund and shall be available for expenditure in subsequent fiscal years.
	(3) The director shall issue rules, regulations and procedures governing the application for and delivery of services which are deemed necessary for the proper performance of the duties of the center.
	(4) Annually, the director shall file a report with the clerks of the house of representatives and senate and the house and senate chairs of the joint committee on housing. Said report shall include include an inventory of housing cooperatives in the state and the specific activities taken by the center to support and promote the transition of traditionally structured properties to a cooperative resident ownership model.
	(5) The director shall be a full-time employee of the executive office of housing and livable communities and shall be appointed by and report directly to the secretary of the executive office of housing and livable communities.