How will the State matching funds be allocated among participating municipalities?

Through the newly created Community Preservation Trust Fund (CPTF), the state will provide matching grants to communities that have adopted CPA. The CPTF receives dedicated funding through a surcharge of $20 on most filings at the Registry of Deeds and land filings at the Land Court. The Commissioner of Revenue will allocate the Fund's proceeds annually in several distribution rounds, but the total annual distribution to a municipality cannot exceed 100% of the amount raised locally by the CPA property tax surcharge. Based on filings in 1999, the CPTF's total revenues are estimated at upwards of$25 million annually. No state matching funds will be allocated until a city or town accepts CPA and collects the related local property tax revenue.