Amendment #1066 to H4000

Life Sciences Investment Fund

Representatives Fernandes of Milford, Garlick of Needham, Linsky of Natick, Gobi of Spencer, Moran of Lawrence, Kocot of Northampton, Smola of Warren, McMurtry of Dedham and Roy of Franklin move that the bill be amended by striking section 90, in its entirety, and inserting in place thereof the following:

“SECTION 90. (a) Notwithstanding any general or special law to the contrary, after complying with clause (a) of section 5C of chapter 29 of the General Laws, the comptroller shall dispose of the consolidated net surplus in the budgetary funds for fiscal year 2014 by transferring: (i) $25,000,000 to the Massachusetts Community Preservation Trust Fund, established by section 9 of chapter 44B of the General Laws; (ii) $19,500,000 to the Massachusetts Life Sciences Investment Fund established by section 6 of chapter 23I of the General Laws; and (iii) the remaining balance to the Commonwealth Stabilization Fund.

(b) All transfers pursuant to this section shall be made from the undesignated fund balances in the budgetary funds proportionally from the undesignated fund balances; provided, however, that no such transfer shall cause a deficit in any of the funds.”