SECTION 9. Section 6A of chapter 40J of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by striking out, in line 16, the words "the director of the office of business and technology" and inserting in place thereof the following words:- the undersecretary of business development.
SECTION 10. Said section 6A of said chapter 40J, as so appearing, is hereby further amended by striking out, in line 19, the words "house and senate committees on science and technology" and inserting in place thereof the following words:- joint committee on economic development and emerging technologies.
SECTION 11. Said section 6A of said chapter 40J, as so appearing, is hereby further amended by inserting after the word "the" in line 66, the following words:- joint committee on economic development and emerging technologies and the.
SECTION 47. There shall be established and set up on the books of the commonwealth a separate fund to be known as the Bay State Competitiveness Investment Fund. Expenditures from the Bay State Competitiveness Investment Fund shall be subject to appropriation.
SECTION 48.
(a) Notwithstanding any general or special law to the contrary, after complying with clause (a) of section 5C of chapter 29 of the General Laws, the comptroller shall dispose of the consolidated net surplus in the budgetary funds for fiscal year 2007 as follows: (i) if the consolidated net surplus for fiscal year 2007 is at least $150,000,000, then the comptroller shall transfer $100,000,000 from the General Fund to the Bay State Competitiveness Investment Fund, established in section 47 and shall transfer the remaining amount to the Stabilization Fund established pursuant to section 2H of chapter 29 of the General Laws; (ii) if the consolidated net surplus for fiscal year 2007 is greater than $50,000,000, but less than $150,000,000, then the comptroller shall transfer $50,000,000 from the General Fund to the Stabilization Fund and shall transfer the remaining amount from the General Fund to the Bay State Competitiveness Investment Fund, established in said section 47; (iii) if the consolidated net surplus for fiscal year 2007 is $50,000,000 or less, then the comptroller shall transfer the entire consolidated net surplus from the General Fund to the Stabilization Fund.
(b) All transfers specified in this section shall be made from the undesignated fund balances in the budgetary funds proportionally from the undesignated fund balances, provided that no such transfer shall cause a deficit in any of the funds.
SECTION 49. Notwithstanding any general or special law to the contrary, section 35J of chapter 10 of the General Laws shall not apply in fiscal year 2008.
SECTION 74. Notwithstanding any general or special law to the contrary, the terms "director of business and technology" or "director of economic development", wherever they appear in a general or special law, shall mean the undersecretary of business development.
SECTION 81. Notwithstanding any general or special law to the contrary, any agency, board, bureau, department, division, section, or commission of the commonwealth required to submit a report to the house and senate committees on ways and means pursuant to this act shall submit a copy of said report to the executive office of administration and finance.
SECTION 90. Sections 47 and 48 shall expire on June 30, 2008.