Chapter 10 of the general laws as appearing in the 2020 official edition is hereby amended by inserting after section 35PPP the following new section:-“Section 35QQQ

(a)There is hereby established and set up on the books of the commonwealth a separate fund to be known as the Commercial Fisheries Offshore Wind Mitigation. The purpose of this fund shall be to maintain seafood industry resiliency and expand opportunity by developing new fisheries; enhancing existing fisheries; introducing new and efficient technologies; and modernizing physical infrastructure to ensure the seafood industry’s competitiveness in a global marketplace, all of which will upgrade energy efficiency, lower carbon footprints, and improve operational efficiencies. The fund shall consist of: (i) any revenues or other financing sources directed to the fund by appropriation; (ii) bond revenues or other monies authorized by the general court and specifically designated to be credited to the fund; (iii) any income derived from the investment of amounts credited to the fund or repayment of loans from the fund; (iv) funds from public and private sources including, but not limited to gifts, federal or private grants, donations, rebates and settlements received by the commonwealth that are specifically designated to be credited to the fund; and (v) all other amounts credited or transferred into the fund from any other source. The executive office of energy and environmental affairs shall seek to maximize fund revenues through federal monies, matching funds and grants. The fund shall be administrated by the commissioner of fish and game in consultation with the commercial fisheries commission established by section 79 of chapter 179 of the acts of 2022. Any unexpended balances in the fund at the end of the fiscal year shall not revert back to the General Fund and shall be available for expenditures in the subsequent fiscal year.

(b)Annually, not later than December 1, the commissioner of fish and game shall report on the activities of the fund to the clerks of the house of representatives and the senate and to the house and senate committees on ways and means. The report shall include an accounting of expenditures made from the fund with a description of the authorized purpose of each expenditure, an accounting of amounts credited to the fund and any unexpended balance remaining in the fund