This is not the official budget document.

Budget Summary FY2015

Outside Section 242
Data Current as of:  10/17/2014




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Disposal of FY2014 consolidated net surplus

SECTION 242.   (a) Notwithstanding any general or special law to the contrary, prior to transferring the consolidated net surplus in the budgetary funds to the Commonwealth Stabilization Fund under section 5C of chapter 29 of the General Laws, the comptroller shall dispose of the consolidated net surplus in the budgetary funds for fiscal year 2014 as follows: (i) transfer 1/2 of the surplus, not to exceed $25,000,000, to the Massachusetts Life Sciences Investment Fund established in section 6 of chapter 23I of the General Laws; (ii) transfer 1/2 of the surplus, not to exceed $25,000,000, to the Massachusetts Community Preservation Trust Fund established in section 9 of chapter 44B of the General Laws; provided, however, that if the consolidated net surplus in the budgetary funds exceeds $50,000,000, the comptroller shall transfer the remaining amount, not to exceed $7,500,000, to the Social Innovation Financing Trust Fund established in section 35VV of chapter 10 of the General Laws.