FILED ON: 10/16/2013
HOUSE . . . . . . . . . . . . . . . No. 3706
Substituted by the House, on motion of Mr. Speliotis of Danvers, for a bill with the same title (House, No. 1865). October 16, 2013. |
The Commonwealth of Massachusetts
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In the Year Two Thousand Thirteen
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An Act authorizing municipalities to utilize funds from enterprise accounts.
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
Section 53F½ of chapter 44 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by adding after the word “section”, in line 38, the following: "; provided, however, that the mayor, board of selectmen or other executive authority of the city or town may, without further appropriation, transfer such surplus produced from such enterprise fund in any of the 5 preceding fiscal years to the General Fund of such municipality in an amount not greater than any appropriation transferred from the General Fund of such municipality to such enterprise fund to balance a deficit in such enterprise fund in any of the 5 preceding fiscal years".