This is not the official budget document.

Budget Summary FY2017

06100010 - Economic Empowerment
Data Current as of:  8/9/2016





Account Description FY2016
Spending
FY2017
GAA
0610-0010 Economic Empowerment
For the Economic Empowerment Trust Fund established in section 35QQ of chapter 10 of the General Laws; provided, that not less than $350,000 shall be expended for a 2-year low-income college savings matching grant program through a public private partnership in not less than 5 cities or towns in geographically diverse regions that shall assist low-income individuals or families with children, in grades 7 to 12, inclusive, establish college savings accounts; provided further, that each college savings account established shall require the individual or family to contribute not less than $100 in the first calendar year; provided further, that the aggregate of all matching amounts for any individual or family shall not exceed $500 in any calendar year; provided further, that the treasurer may enter into agreements with other entities to provide educational awareness, engagement and planning for postsecondary education to parents whose children participate in the program; and provided further, that $60,000 shall be expended for Budget Buddies, Inc. in the town of Chelmsford to operate a program that mentors and teaches financial literacy to low-income women

435,000 810,000

Veto Explanation:   I am striking language which earmarks funding for programs not recommended, and I am reducing this item to the amount projected to be necessary.