Governor Charles D. Baker's Budget Recommendation - House 1 Fiscal Year 2016

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, 2016 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 2016 Revenue by Source Fund (in Millions)

Source

 
All
Budgeted
Funds

 
 
General
Fund

 
Commonwealth
Transportation
Fund

 
Massachusetts
Tourism
Fund

Gaming
Local
Aid
Fund

 
 
Other *
Fiscal 2016 Consensus Tax Revenue Estimate
Alcoholic Beverages 80.7 80.7 0.0 0.0 0.0 0.0
Cigarettes 505.6 505.6 0.0 0.0 0.0 0.0
Corporations 2,164.7 2,164.7 0.0 0.0 0.0 0.0
Deeds 259.6 259.6 0.0 0.0 0.0 0.0
Estate Inheritance 336.1 336.1 0.0 0.0 0.0 0.0
Financial Institutions 23.1 23.1 0.0 0.0 0.0 0.0
Income 14,727.9 14,727.9 0.0 0.0 0.0 0.0
Insurance 393.2 393.2 0.0 0.0 0.0 0.0
Motor Fuels 764.2 0.0 763.2 0.0 0.0 1.0
Public Utilities 22.8 22.8 0.0 0.0 0.0 0.0
Room Occupancy 154.4 120.5 0.0 33.9 0.0 0.0
Sales - Regular 4,188.3 4,188.3 0.0 0.0 0.0 0.0
Sales - Meals 986.0 986.0 0.0 0.0 0.0 0.0
Sales - Motor Vehicles 835.8 297.6 538.2 0.0 0.0 0.0
Miscellaneous 14.2 14.2 0.0 0.0 0.0 0.0
Unemployment Insurance Surcharges 22.4 0.0 0.0 0.0 0.0 22.4
Total Tax Revenues: 25,479.0 24,120.3 1,301.4 33.9 0.0 23.4
 
House 1 Tax Initiatives
Non-Filer Tax Amnesty 100.0 100.0 0.0 0.0 0.0 0.0
Delaying the FAS 109 Deduction 45.8 45.8 0.0 0.0 0.0 0.0
Life Sciences Tax Incentive Cap 5.0 5.0 0.0 0.0 0.0 0.0
Total Tax Revenues: 150.8 150.8 0.0 0.0 0.0 0.0
 
Annual State Contribution to the State Pension System (1,972.0) (1,972.0) 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the MBTA (985.2) (985.2) 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the SBA (803.9) (803.9) 0.0 0.0 0.0 0.0
Workforce Training Trust Fund Transfer (22.4) 0.0 0.0 0.0 0.0 (22.4)
Total Transfers: (3,783.5) (3,761.1) 0.0 0.0 0.0 (22.4)
Total Taxes Available for the Fiscal 2016 Budget 21,846.3 20,510.0 1,301.4 33.9 0.0 1.0
 
Non-Tax Revenue
Federal Reimbursements 10,235.5 10,194.7 0.0 0.0 0.0 40.8
Departmental Revenues 3,849.7 3,172.2 663.2 0.0 0.0 14.3
Consolidated Transfers 2,015.5 1,836.9 96.0 0.0 82.4 0.2
Non-Tax Revenue Total 16,100.7 15,203.8 759.2 0.0 82.4 55.3
 
Grand Total 37,947.0 35,713.8 2,060.6 33.9 82.4 56.3
* Workforce Training Trust Fund and Inland Fisheries and Game Fund.

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