SECTION 1. Chapter 29 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by inserting, after section 12B, the following section:-
Section 12C. Notwithstanding the provisions of any general or special law to the contrary, and in accordance with generally accepted accounting principles, 8% of each fiscal year’s total appropriation shall be reserved for School Funds and State Aid for Public Schools, as described in Chapter 70.
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