Comptroller Fiscal Year Memo Letter Head

November 2, 2012

Jay Gonzalez, Secretary for Administration and Finance
Commonwealth of Massachusetts
State House, Room 373
Boston, MA 02133

Chairman Brian S. Dempsey
House Ways and Means Committee
State House, Room 243
Boston, MA 02133

Chairman Stephen M. Brewer
Senate Ways and Means Committee
State House, Room 212
Boston, MA 02133

Re:  Temporary Holding Fund Transfer

Dear Secretary Gonzalez, Chairman Dempsey, and Chairman Brewer:

Pursuant to certification received from the Commissioner of Revenue in accordance with Massachusetts General Laws, Chapter 62F, Section 6A, the “Cumulative Net State Tax Revenues in Excess of Permissible Limit” is zero as of the first quarter of Fiscal Year 2013.  The balance in the Temporary Holding Fund is $0; therefore, no transfer will be made to the Temporary Holding Fund as of September 30, 2012.

Should you have any questions, please feel free to contact me.

Sincerely,

Martin J. Benison
Comptroller

cc:   
Michael Esmond, Budget Director
Amy Pitter, Commissioner of Revenue        
James MacDonald, First Deputy Treasurer        
Howard Merkowitz, Deputy Comptroller