SECTION 1. Subsection (c) of section 3 of chapter 63B of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by striking out the first and second sentences and inserting in place thereof the following 3 sentences:-

For purposes of this chapter, there shall be 4 required installments for each taxable year, except as otherwise provided by this chapter. The first installment shall be paid on or before the fifteenth day of the third month of the taxable year; the second installment shall be paid on or before the fifteenth day of the sixth month of the taxable year; the third installment shall be paid on or before the fifteenth day of the ninth month of the taxable year; and the fourth installment shall be paid on or before the fifteenth day of twelfth month of the taxable year. The amount of any installment shall be 25 per cent of the required annual payment.

SECTION 2. Section 4A of said chapter 63B, as so appearing, is hereby amended by striking out, in line 4, the word “sixty-five percent” and inserting in place thereof the following words:- 50 per cent.

SECTION 3. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 9, the word “ten percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 4. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 14, the word “ninety percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 5. Said section 4A of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 16 and 17, the word “ten percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 6. Section 4B of said chapter 63B, as so appearing, is hereby amended by striking out, in lines 7 and 8, the word “thirty percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 7. Said section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in line 10, the word “twenty-five percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 8. Said section 4B of said chapter 63B , as so appearing, is hereby further amended by striking out, in line 13, the word “twenty-five percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 9. Said section 4B of said chapter 63B, as so appearing, is hereby further amended by striking out, in lines 15 and 16, the word “twenty percent” and inserting in place thereof the following words:- 25 per cent.

SECTION 10. Notwithstanding any general or special law to the contrary, in order to accommodate the cash flow needs of the Commonwealth resulting from the implementation of this Act, the comptroller shall, not later than June 30, 2016, transfer not more than $200,000,000 to the General Fund from the Commonwealth Stabilization Fund; provided, the commissioner of revenue shall, not later than December 31, 2016, report to the comptroller when a cumulative amount of corporate tax revenue equal to the transfer is collected by the Commonwealth; provided further, the comptroller shall transfer said collected amount from the General Fund to the Commonwealth Stabilization Fund after December 31, 2016 but not later than January 31, 2017. The comptroller, in consultation with the secretary of administration and finance, may 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.

SECTION 11. Sections 1 to 9, inclusive, shall take effect beginning January 1, 2016.