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Budget Summary FY2015

Outside Section 225
Data Current as of:  7/10/2014




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Tobacco Settlement/OPEB Transfer III

SECTION 225.   Notwithstanding any general or special law to the contrary, the unexpended balances in items 0699-0014, 0699-0015, 0699-2005 and 0699-9100 shall be deposited into the State Retiree Benefits Trust Fund, established by section 24 of chapter 32A of the General Laws, not later than June 30, 2015. The amount deposited shall be an amount equal to 30 per cent of all payments received by the commonwealth in fiscal year 2015 under the master settlement agreement in Commonwealth of Massachusetts v. Philip Morris, Inc. et al., Middlesex Superior Court, No. 95-7378; provided, however, that if, in fiscal year 2015, the unexpended balances of items 0699-0014, 0699-0015, 0699-2005 and 0699-9100 is less than 30 per cent of all payments received by the commonwealth in fiscal year 2015 under the master settlement agreement payments, an amount equal to the difference shall be transferred to the State Retiree Benefits Trust Fund from payments received by the commonwealth under the master settlement agreement in Commonwealth of Massachusetts v. Philip Morris, Inc. et al., Middlesex Superior Court, No. 95-7378.