Amendment ID: S2844-63

Amendment 63

Tax Payer Relief Fund

Messrs. Tarr, O'Connor and Timilty move that the proposed new text be amended by inserting after section _ the following new section:-

"SECTION_. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Taxpayers Relief Fund. The secretary of administration and finance shall be the trustee of the fund and shall expend money to finance tax deductions. The fund shall be credited with: (i) any appropriation, bond proceeds or other monies authorized by the general court and specifically designated to be credited thereto; (ii) fifty per cent of the proceeds of any fees collected pursuant to this section unless otherwise specified; (iii) fifty per cent of fees collected pursuant to sections 6 and 7; and (iv) such additional funds as are subject to the direction and control of the secretary. All available money in the fund that are unexpended at the end of each fiscal year shall not revert to the General Fund and shall be available for expenditure in the subsequent fiscal year.

The secretary annually by December 31 shall submit to the clerks of the house and senate the activities of the tax payers relief fund."