SECTION 1. Chapter 10 of the General Laws is hereby amended by inserting after Section 35PPP, the following:-

Section 35QQQ. (a) There shall be established and set up on the books of the commonwealth a Truth, Racial Healing, and Transformation Trust Fund for the purpose of providing grants to community foundations.

(b) Grants from this fund shall be provided to community foundations to bring about transformational and sustainable change by (1) expanding awareness of the historic and contemporary effects of racism that have led to a hierarchy of human value; (2) creating an inclusive acknowledgment of our histories, (3) uprooting local injustices to ensure equal access to progress; and (4) creating inclusive dialogue to promote racial healing. 

(c) The fund shall be administered by the Treasurer and credited with (i) appropriations, bond proceeds or any other money authorized or transferred by the general court and specifically designated to be credited to the fund; (ii) funds from public and private sources including, but not limited to, gifts, grants, and donations; and (iii) any interest earned on such money.

Revenues deposited in the fund that are unexpended at the end of a fiscal year shall not revert to the General Fund and shall be made available for expenditure in the following fiscal year. No expenditure shall be made from the fund that causes the fund to become deficient at any point.

(d) Annually, not later than December 31, the Treasurer shall file a report detailing expenditures from the fund to the clerks of the senate and house of representatives, the senate and house committees on ways and means, and the joint committee on racial equity, civil rights, and inclusion.