This is not the official budget document.

Budget Summary FY2015

Outside Section 154
Data Current as of:  10/17/2014




Previous Outside Section Next Outside Section

 

Housing Stabilization and Preservation Trust Fund

SECTION 154.   Section 60 of chapter 121B of the General Laws is hereby amended by striking out subsections (e) and (f), as appearing in section 106 of chapter 38 of the acts of 2013, and inserting in place thereof the following 2 subsections:-

(e) Not later than August 1 of each fiscal year, the undersecretary shall submit a spending plan to the secretary of administration and finance and the house and senate committees on ways and means. The spending plan shall include the specific programs that shall be supported through the fund including, if applicable, relevant state budget items through which the programs receive additional state support. The spending plan shall include the fund balance at the start of the current fiscal year and expenditures and incomes from the prior fiscal year. Spending from the fund shall be subject to approval of the secretary of administration and finance. The undersecretary shall report not less than every 6 months to the secretary of administration and finance and the house and senate committees on ways and means on how the funds have been expended and how expenditures have differed from the spending plan submitted on August 1. For the purpose of accommodating discrepancies between the receipt of revenues and related expenditures, the undersecretary may incur obligations and the comptroller may certify payment amounts not to exceed the most recent revenue estimate submitted by the undersecretary and approved by the secretary of administration and finance but the fund shall be in balance by the close of each fiscal year.

(f) The undersecretary shall determine eligibility and benefit levels for programs supported by the fund, but programs shall be structured in a sustainable manner. Any funds expended on programs that are also funded through the general appropriations act shall follow all eligibility and program requirements as described in the item language for each such program.