Sections 3 to 7 of Chapter 44B of General Laws of Massachusetts, also known as the Community Preservation Act, establish a dedicated funding source to acquire and preserve open space, parks and conservation land, protect public drinking water supplies and scenic areas, protect wooded areas and other open space from future development, acquire, restore and preserve historic properties, and create affordable housing. In Hingham, the Community Preservation Act would be funded by a surcharge of 1.5% on annual real estate taxes and by annual distributions made by the State from a trust fund created by the Act. Exemptions would apply in Hingham for $100,000 of the assessed value of each taxable parcel of residential real property, and for property owned and occupied as a domicile by any person who qualifies for low income housing or low moderate income senior housing. Usual property tax exemptions also would apply to the surcharge. The rescinded surcharge rate and exemptions would apply immediately or as allowed by law whichever is earliest. A "yes" vote will remove the Community Preservation Act in Hingham. A "no" vote will keep the Community Preservation Act in Hingham.