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Budget Summary FY2013

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Outside Section 159
Data Current as of:  7/7/2012

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Authorization to Transfer Tobacco Settlement Payments

SECTION 159.   Notwithstanding section 1 of chapter 29D of the General Laws or any other general or special law to the contrary, all payments received by the commonwealth in fiscal year 2013 pursuant to 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 General Fund. Notwithstanding section 3 of said chapter 29D to the contrary, the comptroller shall transfer 100 per cent of the earnings generated in fiscal year 2013 from the Health Care Security Trust, as certified under paragraph (f) of said section 3 of said chapter 29D, to the General Fund.

Veto Explanation:
I am vetoing this section because it mistakenly directs all tobacco settlement proceeds to the General Fund, instead of sending 10 percent to the State Retireee Benefits Trust Fund, as I recommended and the Legislature apparently intended.