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Budget Summary FY2015

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Outside Section 47
Data Current as of:  10/17/2014

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One Time Settlement to Stabilization Fund I

SECTION 47.   The last paragraph of section 2H of chapter 29 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended by adding the following 2 sentences:- A constitutional office in receipt of such a non-tax 1-time settlement or judgment shall notify the attorney general not later than 10 days after receipt of such settlement or judgment. Prior to the close of each fiscal year, an amount that exceeds the average total revenue received by the commonwealth through 1-time settlements and judgments in excess of $10,000,000 in each of the previous 5 fiscal years shall be transferred from the Stabilization Fund to the General Fund.