Chapter 130 of the General Laws is hereby amended by adding the following section:-

Section 107. (a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Commercial Fisheries Offshore Wind Mitigation Fund to be administered by the division. There shall be credited to the fund: (i) X per cent of the total amount agreed upon in a procurement contract between the commonwealth and any offshore wind provider; (ii) X per cent of ratepayer fees paid to offshore wind providers; and (iii) any appropriations, grants, gifts or other monies authorized by the general court or other parties and specifically designated to be credited to the Fund and any income derived from the investment of amounts credited to the Fund. All amounts credited to the Fund may be expended, subject to appropriation, provided that all unexpended balances remaining in the fund at the end of the fiscal year shall not revert to the General Fund and may be appropriated for expenditure in the subsequent fiscal year.

(b) The division shall request input, to be transmitted in writing, from the commercial fisheries commission established by section 79 of chapter 179 of the acts of 2022 on proposed spending of the Fund for each upcoming fiscal year.