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Budget Summary FY2012

Outside Section 21
Data Current as of:  7/11/2011




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Health Information Technology and Build America Bonds Trust Funds

SECTION 21.   Chapter 10 of the General Laws is hereby amended by inserting after section 35QQ the following 2 sections:-

Section 35RR. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Health Information Technology Trust Fund, in this section called the fund. There shall be credited to the fund revenues from federal reimbursements under the Health Information Technology for Economic and Clinical Health Act, Title XIII of Division A and Title IV of Division B of Pub. L. No. 111-5, and any other federal reimbursements, grants, premiums, gifts or other contributions from any source received for or in support of the health care provider incentive payment program and for the promotion of electronic health record adoption and health information exchange in the commonwealth. The secretary of health and human services shall be the fund's trustee and shall expend the fund, without further appropriation, for incentive payments to eligible Massachusetts Medicaid health care providers for the adoption, implementation, upgrade or meaningful use of certified electronic health record technology and to support the planning, implementation and operating costs of administering these payments. The secretary may certify for payment amounts in anticipation of federal revenues collected for the corresponding quarter during the previous fiscal year. For the purpose of accommodating timing discrepancies between the receipt of revenues and related expenditures, the secretary may incur expenses, after written approval from the secretary of administration and finance, and the comptroller shall certify for payment, amounts not to exceed the most recent revenue estimate as certified by the MassHealth director, as reported in the state accounting system.

Section 35SS. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Build America Bonds Subsidy Trust Fund, in this section called the fund. There shall be credited to the fund payments received from the United States Treasury for subsidies related to any tax credit bonds issued by the commonwealth for the purpose of paying or reimbursing interest on such bonds. The state treasurer shall be the fund's trustee, may credit any such payments to the appropriate funds or accounts of the commonwealth allocable to the payment of such interest and in accordance with any applicable trust agreements pursuant to which any bonds were issued and shall make expenditures from the fund, without further appropriation, to pay debt service related to such bonds. The comptroller may, without further appropriation, transfer from any available appropriation any amount determined by the comptroller to have been withheld by the federal government from a tax credit bond subsidy payment.