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HOUSE DOCKET, NO. 2978        FILED ON: 2/18/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3418

 

The Commonwealth of Massachusetts

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PRESENTED BY:

Thomas P. Conroy

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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 relative to the allocation of settlement funds.

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PETITION OF:

 

Name:

District/Address:

Thomas P. Conroy

13th Middlesex

Carolyn C. Dykema

8th Middlesex

Denise Provost

27th Middlesex


HOUSE DOCKET, NO. 2978        FILED ON: 2/18/2011

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3418

By Mr. Conroy of Wayland, a petition (accompanied by bill, House, No. 3418) of Thomas  P. Conroy and others relative to the allocation of funds received by the Attorney General through third party settlements.  State Administration and Regulatory Oversight. 

 

The Commonwealth of Massachusetts

 

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In the Year Two Thousand Eleven

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An Act relative to the allocation of settlement funds.

 

              Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

              Chapter 12 of the General Laws, as appearing in the 2008 Official Edition, is hereby amended by inserting after section 5H the following section:-

              Section 5H1/2.  Each fiscal year the comptroller shall transfer any funds received by the attorney general through any third party settlement in the following amounts: (1) 25 per cent to the General Fund; (2) 25 per cent to the State Retiree Benefits Trust Fund established by section 24 of chapter 32A; and (3) 50 per cent to the Commonwealth Stabilization Fund established pursuant to section 2H of chapter 29.

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