SECTION 1. Chapter 29 of the General Laws is hereby amended by inserting after section 2QQQQQ the following section:-

Section 2RRRRR. (a) There shall be established and set up on the books of the commonwealth a separate fund to be known as the Caregivers to Adults with Disabilities Fund. The board of higher education, hereinafter the board, shall administer the fund. The fund shall be credited with: (1) revenue from appropriations or other money authorized by the general court and specifically designated to be credited to the fund; (2) interest earned on such revenue; and (3) funds from public and private sources and other gifts, grants and donations. All amounts credited to the fund shall be used solely for activities and expenditures consistent with the public purpose of the fund as set forth in subsection (b), including the ordinary and necessary expenses of administration and operation associated with the fund. All amounts credited to the fund shall be held in trust and shall be available for expenditure, without further appropriation, by the board. Any unexpended balance in the fund at the close of a fiscal year shall remain in the fund and shall be available for expenditure in subsequent fiscal years.

Annually, not later than December 1, the board shall issue a report to the clerks of the house of representatives and the senate, the chairs of the house and senate committees on ways and means, the chairs of the joint committee on education and the chairs of the joint committee on children, families and persons with disabilities on the fund’s activities including, but not limited to, amounts credited to the fund, amounts expended from the fund and any unexpended balance.

(b) The board shall make expenditures from the fund for the purpose of furthering the educational opportunities of those who serve as caregivers to adults with disabilities by subsidizing tuition and fees for community college courses at eligible postsecondary institutions.

(c) The board shall promulgate regulations to effectuate the purposes of this section.

SECTION 2. Notwithstanding any general or special law to the contrary, not later than 14 days after the effective date of this act, the state comptroller shall transfer from the General Fund $4,125,000 to the Caregivers to Adults with Disabilities Fund established in chapter 29.