Budget Amendment ID: FY2017-S4-92-R1

Redraft LOC 92

Excess Revenue for Local Aid

Messrs. Tarr, Timilty, OConnor, Fattman and Ross moved that the proposed new text be amended by inserting, after section ___, the following new section:-

"SECTION ___. (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 2016 by transferring: (i) $10,000,000 to the Massachusetts Community Preservation Trust Fund, established by section 9 of chapter 44B of the General Laws; (ii) $10,000,000 distributed to municipalities of the Commonwealth in the manner prescribed by clause (c) of the second paragraph of section 35 of chapter 10 of the general laws; and (iii) any remaining funds shall be deposited into 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.