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Budget Summary FY2014

Outside Section 43
Data Current as of:  9/11/2013




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Postpone Statutory Carry-Forward

SECTION 43.   Said chapter 29 is hereby further amended by striking out section 5C, as appearing in section 112 of chapter 165 of the acts of 2012, and inserting in place thereof the following section:-

Section 5C. The comptroller shall annually, on or before October 31, certify to the secretary of administration and finance the amount of the consolidated net surplus in the budgetary funds at the close of the preceding fiscal year. Except as otherwise provided by law, the amounts so certified shall be transferred to the Commonwealth Stabilization Fund. This transfer shall be made from the undesignated fund balances in the budgetary funds proportionally from those undesignated fund balances; provided, however, that no such transfer shall cause a deficit in any of those funds. Before certifying the consolidated net surplus under this section, the comptroller shall, to the extent possible, eliminate deficits in any fund contributing to the surplus by transferring positive fund balances from any other fund contributing to the surplus.