Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

Outside Section 35



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Extend Authorizations to Transfer Trust Balances and Tobacco Payments

SECTION 35.   (a) Sections 138 and 141 of chapter 131 of the acts of 2010 shall apply to fiscal year 2012.

(b) Notwithstanding section 1 of chapter 29D of the General Laws or any other general or special law to the contrary, 10 per cent of all payments received by the commonwealth in fiscal year 2013 under the master settlement agreement in Commonwealth of Massachusetts v. Philip Morris, Inc. et. al., Middlesex Superior Court, No. 95-7378, shall be deposited in the Health Care Security Trust, and the balance of funds received in fiscal year 2013 shall be deposited in the General Fund. The amount of these payments to be deposited in the Health Care Security Trust shall be increased by 10 percentage points in fiscal year 2014 and in each subsequent fiscal year until the amount to be deposited reaches 100 per cent of the payments.
 
 

Summary:
This extends to fiscal year 2012 authorizations in the fiscal year 2011 budget to transfer to the General Fund certain trust and account balances, and also tobacco settlement payments amd interest. Beginning in fiscal year 2013, an increasing share of tobacco settlement payments will be deposited in the Health Care Security Trust.



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