Budget Amendment ID: FY2018-S3-45

LOC 45

Excess Revenue for Local Aid

Messrs. Tarr, Humason, O'Connor and Ross moved that the proposed new text be amended by inserting after section __ the following new section:-

“SECTION __.  Notwithstanding any general or special law to the contrary, in the event state tax revenues for fiscal year 2018 exceed $22,700,000,000, the treasurer shall make fifty percent of the excess revenue, up to $100,000,000, available to cities and towns; provided, the excess revenue shall be distributed on a proportional basis pursuant to the distribution of unrestricted general government aid, as prescribed in section 3 of the annual general appropriations act; provided, the treasurer shall notify the house and senate chairs of the committees on ways and means, the house and senate chairs of the joint committee on education, the commissioner of revenue, the secretary of education, and the secretary of administration and finance of any distribution which is made according to this section not less than 30 days prior to the date such distribution is implemented.”.