HOW WILL THE HOUSING BANK BE FUNDED?

The Housing Bank funding warrant article requests that each town allocate 50% of its forthcoming revenue from the newly expanded local excise rooms tax (which now includes short-term rentals as well as hotels, motels, and B&Bs) and dedicate it to the Martha's Vineyard Housing Bank. Upon passage on the floor of each Annual Town Meeting, the State Legislature in Boston must finalize and enact it.

WHAT could IT CREATE?