Governor Charles D. Baker's Budget Recommendation - House 2 Fiscal Year 2017

Outside Section 23



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Tobacco Settlement/OPEB Transfer

SECTION 23.   (a) Notwithstanding any general or special law to the contrary, the unexpended balances in items 0699-0014, 0699-0015, 0699-2005 and 0699-9100 shall be deposited into the State Retiree Benefits Trust Fund, established in section 24 of chapter 32A of the General Laws, not later than June 30, 2017. The amount deposited shall be an amount equal to 30 per cent of all payments received by the commonwealth in fiscal year 2017 under the master settlement agreement in Commonwealth of Massachusetts v. Philip Morris, Inc. et al., Middlesex Superior Court, No. 95-7378.

(b) Notwithstanding any general or special law to the contrary, the percentage increase set forth in section 152 of chapter 68 of the acts of 2011 shall not apply in fiscal year 2017.
 
 

Summary:
This section, which has appeared in prior budgets, authorizes the use of debt service reversions to pay for OPEB funding.



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