Sections 3 to 7 of Chapter 44B of the General Laws of Massachusetts, also known as the Community Preservation Act (?Act?), established a dedicated funding source for the acquisition, creation, and preservation of open space; acquisition, preservation, rehabilitation and restoration of historic resources; acquisition, creation, preservation, rehabilitation and restoration of land for recreational use; acquisition, creation, preservation and support of community housing; and rehabilitation or restoration of open space and community housing acquired or create as provided under said Act. In Rutland, the funding source for these community preservation purposes will be a surcharge of 3% on the annual tax levy on real property beginning in fiscal year 2026, and by annual distributions made by the state from a trust fund created by the Act. Only communities that adopt the Act receive a distribution from this state trust fund. If approved, the following will be exempt from the surcharge: property owned and occupied as a domicile by a person who would qualify for low income housing or low or moderate income senior housing in the Town of Rutland, as defined in Section 2 of said Act; and $100,000 of the value of each taxable parcel of residential property. A taxpayer receiving a regular property tax abatement or exemption will also receive a pro rata reduction in surcharge. Upon acceptance by the voters, a Community Preservation Committee composed of local residents will be established through a by-law to be adopted by a future Town Meeting, to study community preservation resources, possibilities, and needs. Town Meeting may appropriate Community Preservation Act funds upon recommendation from the Community Preservation Committee. At least 10% of the funds for each fiscal year will be spent or reserved for later spending on each of the Act?s three community preservation purposes: (1) open space and recreation, (2) historic resources, and (3) affordable housing.