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Budget Summary FY2012

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Outside Section 37
Data Current as of:  7/11/2011

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One-time Settlements to Stabilization Fund

SECTION 37.   Section 2H of chapter 29, as so appearing, is hereby amended by adding the following paragraph:-

Upon receiving a written joint certification from the commissioner of revenue and the attorney general that a state agency is in receipt of a one-time settlement or judgment for the commonwealth, of which the net value to the commonwealth of the proceeds of that settlement or judgment, after all restitution or other remedial payments are made pursuant to the settlement or judgment, exceeds $10,000,000 in any one fiscal year, the comptroller shall transfer said proceeds from the General Fund to the Stabilization Fund established under this section.