SENATE DOCKET, NO. 1045        FILED ON: 1/17/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 169

The Commonwealth of Massachusetts

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PRESENTED BY:

Kenneth J. Donnelly

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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:

The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:

An Act relative to the workforce competitiveness trust fund.

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PETITION OF:

SENATE DOCKET, NO. 1045        FILED ON: 1/17/2013

SENATE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 169

The Commonwealth of Massachusetts

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In the Year Two Thousand Thirteen

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An Act relative to the workforce competitiveness trust fund.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Section 2WWW of chapter 29 of the General Laws is hereby amended by deleting subsection               (d) beginning at line 60, as appearing in the 2010 Official Edition, the following new subsection (d):-

(d) There shall be credited to the fund amounts as described below:

(i)an amount equal to 40% of the total revenue deposited into the Gaming Economic Development Fund transferred annually from that fund to the Workforce Competitiveness Trust Fund;

(ii)an amount totaling any excess above $2,000,000 that may exist in the Gaming Economic Development Fund as measured on December 31 and transferred annually from the Gaming Economic Development Fund, not to exceed an annual transfer above $5,000,000; and,

(iii)any revenue from appropriations or other monies authorized by the general court and specifically designated to be credited to the fund, and any gifts, grants, private contributions, investment income earned on the fund's assets and all other sources.

Money remaining in the fund at the end of a fiscal year shall not revert to the General Fund.