Long Term Leases for Boat Clubs

SECTION 62.   Chapter 65 of the acts of 2010 is hereby amended by inserting after section 2 the following section:-

Section 2A. Notwithstanding sections 40E to 40I, inclusive, of chapter 7 of the General Laws or any other general or special law to the contrary, the leases or other agreements executed under section 1 shall not require an annual rental payment increase of more than 2 per cent of the established rental payment rate for each lease as of January 1, 2015. This section shall not apply to any lease or other agreement executed by a club associated with an educational institution.