Amendment #13 to H.3535
Capital Gains Transfer for Chapter 90
Representatives Hill of Ipswich, Jones of North Reading, Peterson of Grafton, Poirier of North Attleborough and deMacedo of Plymouth move that the bill be amended by inserting at the end thereof the following new section: -
“Section XX. Notwithstanding section 5G of chapter 29 of the General Laws, for the purpose of covering the costs authorized in item 6122-1223 as authorized by chapter 18 of the acts of 2013, the comptroller shall transfer $50,000,000 to the General Fund from the proceeds of capital gains income receipts exceeding $1,000,000,000 that would otherwise be transferred to the Commonwealth Stabilization Fund. The comptroller, in consultation with the secretary of administration and finance, shall take the overall cash flow needs of the commonwealth into consideration in determining the timing of any transfer of funds. The comptroller shall provide a schedule of transfers to the secretary of administration and finance and to the house and senate committees on ways and means.”.