Mass. Gen. Laws ch. 40O § 8
The collector-treasurer of each municipality is hereby authorized to collect such district fees in designated BIDs and to disburse the funds to the designated management entity.
The district fees collected shall be used solely to fund items identified and approved in the improvement plan for the BID.
The collector-treasurer shall disburse revenues to the management entity within thirty days of the collection of such fees, together with the interest earned on the holding of such fees.
Following establishment of the BID, all fees billed by or on behalf of the BID and unpaid after thirty days from the date of billing shall become a lien on the property, which shall have priority over all other liens except municipal liens and mortgages of record prior to the recording of a notice of lien, if notice of the lien is duly recorded by the management entity in the appropriate registry of deeds or land court registry district.
An annual audit, certified by a certified public accountant, of the revenues generated, grants, donations, and gifts received by the BID and its expenses shall be made within one hundred and twenty days of the close of the fiscal year, and shall be placed on file with the collector. Such accounting shall be a public record.
Mass. Gen. Laws ch. 40O, § 8