HOUSE DOCKET, NO. 145 FILED ON: 1/6/2017
HOUSE . . . . . . . . . . . . . . . No. 1483
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The Commonwealth of Massachusetts
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PRESENTED BY:
James M. Cantwell
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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 to reduce the pension fund liability.
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PETITION OF:
Name: | District/Address: | Date Added: |
James M. Cantwell | 4th Plymouth | 1/6/2017 |
Josh S. Cutler | 6th Plymouth | 2/3/2017 |
HOUSE DOCKET, NO. 145 FILED ON: 1/6/2017
HOUSE . . . . . . . . . . . . . . . No. 1483
By Mr. Cantwell of Marshfield, a petition (accompanied by bill, House, No. 1483) of James M. Cantwell and Josh S. Cutler relative to transferring funds to the Commonwealth Stabilization Fund. Revenue. |
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE HOUSE, NO. 3953 OF 2015-2016.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninetieth General Court
(2017-2018)
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An Act to reduce the pension fund liability.
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 5C of chapter 29 of the General Laws, as so appearing, is hereby amended by inserting the following paragraph at the end thereof:
“10 per cent of any amount transferred to the Commonwealth’s Stabilization Fund under this section shall then be transferred from the Commonwealth Stabilization Fund to the Commonwealth’s Pension Liability Fund established in section 22 of chapter 32.”
SECTION 2. Section 5G of chapter 29 of the General Laws, as appearing in the 2014 Official Edition, is hereby amended by striking out the words “Five per cent” in line 28, and inserting in place thereof the following:
“25 per cent”