Outside Section 44

Transfer Fund Balances

SECTION 44.   (a) Beginning July 1, 2007, the comptroller shall transfer $380,520,000 from the General Fund to the State Retiree Benefits Trust Fund established by section 24 of chapter 32A of the General Laws, according to a schedule developed in consultation with the state treasurer and the secretary of administration and finance.
          (b) As of June 30, 2007, the comptroller shall transfer to the General Fund the balance in the Health Care Quality Improvement Trust Fund, established by section 2EEE of chapter 29 of the General Laws.
          (c) As of July 1, 2007, the comptroller shall transfer $50,000,000 from the Health Care Security Trust to the General Fund, to be used subject to appropriation for the following programs of the department of public health: substance abuse services, public health promotion and disease prevention, and universal immunization.
          (d) As of January 1, 2008, the comptroller shall transfer the balance in the Health Care Security Trust to the State Retiree Benefits Trust Fund.
 
 

Summary:
This section transfers:
          (a) $380.52 million to the State Retirees Benefits Trust Fund, to pay fiscal year 2008 retiree benefit costs;
          (b) the balance in the Health Care Quality Improvement Trust Fund to the General Fund;
          (c) $50 million from the Health Care Security Trust to the General Fund, to be used for the following programs of the Department of Public Health: substance abuse services, public health promotion and disease prevention, and universal Immunization;
          (d) the balance in the Health Care Security Trust to the State Retirees Benefits Trust Fund, as of January 1, 2008.