MA H482

Expands the definition of "Gateway municipality" to include any municipality containing a designated port area, in addition to the existing criteria based on population (35,000-250,000), below-average median household income, and below-average bachelor's degree attainment rates

Creates a new Designated Port Area Community Fund to be administered by the Massachusetts Development Finance Agency

Fund may receive appropriations, grants, gifts, and investment income, and can be spent without further appropriation for economic assistance to properties within designated port areas

Unexpended fund balances carry over to subsequent fiscal years rather than reverting to the General Fund, and the fund is exempt from indirect and fringe benefit assessments