Section 60:
Housing Preservation and Stabilization Trust Fund
Section 60. (a) There shall be a Housing Preservation and Stabilization Trust Fund, which shall be administered by the secretary of housing and livable communities. Monies in the trust fund shall be deposited with the state treasurer in a manner that will secure the highest interest rate available consistent with the safety of the trust fund and with the requirement that all amounts on deposit be available for immediate use.
(b) The secretary shall appoint the trustee of the fund, who shall serve until a successor is appointed.
(c) There shall be credited to the trust fund: any unexpended funds from items 7004–0100, 7004–0101, 7004–0108, 7004–9024, 7004–9030 and 7004–9316, which shall not revert to the General Fund but instead shall be deposited in the trust fund; other funds appropriated or transferred to the trust fund by the general court; and all interest earned on monies in the trust fund.
(d) Expenditures from the fund shall not be subject to appropriation and balances remaining at the end of a fiscal year shall not revert to the General Fund. Expenditures from the fund shall be made only for providing affordable housing for low-income families and individuals in the commonwealth, particularly those most at risk of becoming homeless.