Section 1A - Revenue by Source and Fund

SECTION 1A. In accordance with Articles LXIII and CVII of the Amendments to the Constitution and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2015 are necessary and sufficient to provide the means to defray the appropriations and expenditures from such funds for this fiscal year as set forth and authorized in sections 2, 2B and 2E. The comptroller shall keep a distinct account of actual receipts from each such source by each such fund to furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth in this section and to include a full statement comparing such actual and projected receipts in the annual report for this fiscal year pursuant to section 13 of chapter 7A of the General Laws. The quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.

Fiscal Year 2015 Revenue by Source Fund (in Millions)

Source

 
All
Budgeted
Funds

 
 
General
Fund

 
Commonwealth
Transportation
Fund

 
Massachusetts
Tourism
Fund
Commonwealth
Health
and
Prevention
Fund

Health
Insurance
Expansion
Fund

 
 
Other *
Fiscal 2015 Consensus Tax Revenue Estimate
Alcoholic Beverages 79.2 79.2 0.0 0.0 0.0 0.0 0.0
Cigarettes 513.0 513.0 0.0 0.0 0.0 0.0 0.0
Corporations 2,000.0 2,000.0 0.0 0.0 0.0 0.0 0.0
Deeds 232.6 232.6 0.0 0.0 0.0 0.0 0.0
Estate Inheritance 304.3 304.3 0.0 0.0 0.0 0.0 0.0
Financial Institutions 4.8 4.8 0.0 0.0 0.0 0.0 0.0
Income 14,020.8 14,020.8 0.0 0.0 0.0 0.0 0.0
Insurance 413.5 413.5 0.0 0.0 0.0 0.0 0.0
Motor Fuels 771.6 0.0 770.6 0.0 0.0 0.0 1.0
Public Utilities (1.8) (1.8) 0.0 0.0 0.0 0.0 0.0
Room Occupancy 141.7 92.1 0.0 49.6 0.0 0.0 0.0
Sales - Regular 4,038.8 4,038.8 0.0 0.0 0.0 0.0 0.0
Sales - Meals 997.7 997.7 0.0 0.0 0.0 0.0 0.0
Sales - Motor Vehicles 783.3 257.1 526.2 0.0 0.0 0.0 0.0
Miscellaneous 15.4 15.4 0.0 0.0 0.0 0.0 0.0
Unemployment Insurance Surcharges 22.2 0.0 0.0 0.0 0.0 0.0 22.2
Total Tax Revenues: 24,337.1 22,967.5 1,296.8 49.6 0.0 0.0 23.2
 
House 2 Tax Initiatives & Delay of FAS 109
Repealing the Exemption of Candy and Soda from the Sales Tax 67.8 0.0 0.0 0.0 67.8 0.0 0.0
Delaying the FAS 109 Deduction for an Additional Year 45.8 45.8 0.0 0.0 0.0 0.0 0.0
Taxing Security Corporations Like Other Business Corporations 21.0 21.0 0.0 0.0 0.0 0.0 0.0
Taxing Non-Insurance Subsidiaries of Insurance Companies Like Other Business Corporations 8.4 8.4 0.0 0.0 0.0 0.0 0.0
Clarifying that the Room Occupancy Excise Applies to Internet Room Resellers 8.1 5.3 0.0 2.8 0.0 0.0 0.0
Expanding the Room Occupancy Excise to Include Transient Accomodations 2.6 1.7 0.0 0.9 0.0 0.0 0.0
Total Tax Revenues: 153.7 82.2 0.0 3.7 67.8 0.0 0.0
 
Annual State Contribution to the State Pension System (1,793.0) (1,793.0) 0.0 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the MBTA (811.3) (811.3) 0.0 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the SBA (782.4) (771.6) 0.0 0.0 (10.8) 0.0 0.0
Workforce Training Trust Fund Transfer (22.2) 0.0 0.0 0.0 0.0 0.0 (22.2)
Total Transfers: (3,408.9) (3,375.9) 0.0 0.0 (10.8) 0.0 (22.2)
Total Taxes Available for the Fiscal 2015 Budget 21,081.9 19,673.8 1,296.8 53.3 57.0 0.0 1.0
 
Non-Tax Revenue
Federal Reimbursements 9,522.0 9,165.5 0.0 0.0 0.0 350.0 6.5
Departmental Revenues 3,714.0 3,030.7 663.9 0.0 0.0 0.0 19.3
Consolidated Transfers 1,863.7 1,796.6 75.0 1.7 0.0 0.0 (9.6)
Non-Tax Revenue Total 15,099.7 13,992.8 738.9 1.7 0.0 350.0 16.2
 
Grand Total 36,181.6 33,666.6 2,035.7 55.0 57.0 350.0 17.2
* Workforce Training Trust Fund, Inland Fisheries and Game Fund and a number of budgetary funds established in Chapter 194 of the Acts of 2012, otherwise known as "An Act Establishing Expanded Gaming in the Commonwealth."