Budget Amendment ID: FY2020-S3-381

GOV 381

Mass Life Sciences Center Investment Fund

Messrs. Hinds and O'Connor moved that the proposed new text be amended by inserting at the end thereof the following:-

"SECTION XX. 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 2019 as follows: (i) transfer ½ of the surplus, not to exceed $10,000,000, to the Massachusetts Life Sciences Investment Fund established by section 6 of chapter 23I of the General Laws; and (ii) the remaining balance to the Commonwealth Stabilization Fund"