Budget Amendment ID: FY2013-S4-137

GOV 137

TRANSFER OF CONSOLIDATED NET SURPLUS

Messrs. Tarr, Knapik and Hedlund moved that the proposed new text be amended by inserting after section __, the following new sections:-

“SECTION__.  Section 2I of Chapter 29 of the general laws, as appearing in the 2010 Official Edition, is hereby amended by inserting after the word “consisting”, in line 3, the following words:-  of any funds that may be appropriated or transferred for deposit into the fund and”

SECTION__.  The provisions of any general or special law notwithstanding, not less than 25 per cent of any consolidated net surplus arising from Fiscal Year 2013 shall be deposited into the Tax Reduction Fund in section 2I of chapter 29 of the general laws.”.