Budget Amendment ID: FY2017-S4-257-R2

2nd Redraft EDU 257

Funding the Foundation Budget Review Commision

Messrs. Tarr, Fattman and Ross moved that the proposed new text be amended <w:p><w:r><w:t xml:space="preserve">by inserting after section __ the following new section__:-

SECTION _ . Chapter 10 of the General Laws as appearing in the 2014 Official Edition is hereby amended by inserting after section 35CCC the following section:-

Section_. There shall be established and set upon the books of the commonwealth a separate fund to be known as the Learning Innovation for Tomorrow (LIFT) fund, whose purpose shall be to finance the recommendations of the foundation budget review commission as established under section 4 of chapter 70.

Amounts shall be credited to the fund pursuant to subsection (a), of this section, provided that the fund may be supplemented through appropriation from the general fund or other available sources including but not limited to any interest earned on monies in the fund; any funds from private sources including, but not limited to, gifts, grants and donations received by the commonwealth that are specifically designated to be credited to the fund, provided further that expenditure from the fund shall be made pursuant to a specific line item created to distribute funding by the Department of elementary, and secondary education.

Funds may be expended from the fund for the following purposes:

(1)To support the implementation of the recommendations of the foundation budget review commission, as determined by the schedule established under SECTION 26 of this act.

In promulgating regulations to administer the fund, the department shall establish and monitor measurable benchmarks for progress and accomplishment, and shall report annually to the clerks of the house and senate, the house and senate committees on ways and means, the joint committee on education, and the secretary of education not later than December 31 of each year on the impacts of fund spending.

(a). Section 10 of chapter 152 of the acts of 1997 are hereby amended by inserting in at the end of sub clause (iii) in clause (C) the following:- (iv) Not less than twenty million plus fifty per cent of surplus over required debt service annually to be deposited into the LIFT fund as established by this section

moves to further amend by inserting, after section __, the following new section:-

SECTION_. Chapter 195 of the acts of 2014 are hereby repealed

moves to further amend by inserting, after section __, the following new section:-

SECTION_. Chapter 395 of the acts of 2014 are hereby repealed