When the Massachusetts House of Representatives, Thursday, passed the short-term rental tax bill it came with an amendment introduced by 4th Barnstable District State Rep. Sarah Peake.
That amendment creates the Cape Cod and Islands Water Protection Fund.
The fund will provide financial assistance to towns to implement wastewater management projects that are intended to restore the health of the bays and estuaries on the Cape and Islands. An additional 2.75 percent fee assessed on short-term rentals will provide the revenue resource for the fund.
The Association to Preserve Cape Cod has been a strong proponent of the establishment of the fund and worked closely with the Cape Cod legislative delegation and other community leaders, including the Cape Cod Chamber of Commerce, in support of its adoption.
The state Senate is due to debate its own version of a short-term rental tax bill in the near future. Both versions must then go before a conference committee of the House and Senate to resolve any differences in the legislation before going to the Governor for his signature.