Budget Amendment ID: FY2015-S4-4-R1

Redraft OTH 4

Community Preservation Trust Fund

Ms. Creem, Mr. Barrett, Ms. Candaras, Messrs. DiDomenico, Donnelly, Eldridge and Finegold, Ms. Forry, Messrs. Hedlund and Humason, Ms. Jehlen, Messrs. Keenan and Lewis, Ms. Lovely, Mr. Michael O. Moore, Ms. O'Connor Ives, Messrs. Rodrigues, Ross and Rush, Ms. Spilka, Messrs. Welch, Wolf and Brownsberger, Ms. Donoghue, Messrs. Joyce, Tarr, Downing, Kennedy, McGee and Montigny moved that the proposed new text be amended moved that the bill be amended by striking out section 115 and inserting in place thereof the following section:

“SECTION 115. (a) Notwithstanding any general or special law to the contrary, prior to transferring the consolidated net surplus in the budgetary funds to the Commonwealth Stabilization Fund under 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 in the following order to the extent that funds are available: (i) transfer $25,000,000 to the Massachusetts Life Sciences Investment Fund established in section 6 of chapter 23I of the General Laws; (ii); transfer $10,000,000 to the Massachusetts Community Preservation Trust Fund established in section 9 of chapter 44B of the General Laws; and (iii) transfer $7,000,000 to the Social Innovation Financing Trust Fund established in section 35VV of chapter 10 of the General Laws.

(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 transfers shall cause a deficit in any of the funds.”