Amendment #1100 to H5500

Local Fiscal Stabilization

Mr. Gaskey of Carver moves to amend the Bill by adding the following section:

"SECTION X. Notwithstanding section 23 of chapter 59 of the General Laws, section 31 of chapter 44 of the General Laws, section 16B1/2 of chapter 71, or any other general or special law to the contrary, a city, town or district that was a member of the Gateway Health Group in fiscal year 2026 or before may amortize over the subsequent 5 fiscal years, in equal installments or more rapidly, the amount of its Gateway Health Group insurance-related deficit. The commissioner of revenue shall issue guidelines or instructions: (i) as to the amount that constitutes the health insurance-related deficit under this section; and (ii) for reporting the amortization of deficits authorized by this section. The local appropriating authority, as defined in section 21C of said chapter 59, shall adopt a deficit amortization schedule in accordance with the department of revenue’s guidelines or instructions under this section before setting the municipality’s fiscal year 2027 tax rate. Said amortization schedule may be amended with the permission of the department of revenue to provide for additional costs not known before setting the municipality’s fiscal year 2027 tax rate. This section shall take effect upon its passage."