New Chapter 29 Funds

SECTION 27.   Said chapter 29 is hereby further amended by inserting after section 2YYYY the following 3 sections:-

Section 2ZZZZ. (a) There shall be a Debt and Long-Term Liability Reduction Trust Fund. The fund shall be administered by the secretary of administration and finance, in consultation with the treasurer and receiver-general.

(b) There shall be credited to the fund all monies received under subclause (i) of clause (2) of section 59 of chapter 23K. Expenditures from the fund shall be made for the payment and prepayment of commonwealth debt and other long-term liabilities including, but not limited to: (i) debt service payable by the commonwealth and the Massachusetts Department of Transportation; (ii) contract assistance payments; (iii) payments pursuant to contracts established under section 38C; (iv) funding escrow accounts for the payments described in clauses (i) to (iii), inclusive; (v) unfunded pension liabilities; and (vi) other post-employment benefits. The comptroller may certify amounts for payment in anticipation of expected receipts; provided, however, that no expenditure shall be made from the fund that shall cause the fund to be deficient at the close of a fiscal year. Amounts credited to the fund shall not be subject to further appropriation. Money remaining in the fund at the close of a fiscal year shall not revert to the General Fund and shall be available for expenditure in subsequent fiscal years.

(c) Annually, not later than December 1, the secretary shall report on the activities of the fund to the clerks of the house of representatives and senate and to the chairs of the house and senate committees on ways and means. The report shall include an accounting of expenditures made from the fund with a description of the authorized purpose of each expenditure, an accounting of amounts credited to the fund and any unexpended balance remaining in the fund.

Section 2AAAAA. There shall be a Safety Net Provider Trust Fund. The fund shall be administered by the secretary of health and human services. Payments from the fund shall be: (i) subject to the availability of federal financial participation; (ii) made under federally-approved payment methods; (iii) consistent with federal funding requirements and federal payment limits; and (iv) subject to the terms and conditions of an agreement between the Centers for Medicare and Medicaid Services and the executive office of health and human services.

Money from the fund may be expended for payments to providers that qualify under an approved federal waiver. Amounts credited to the fund shall not be subject to further appropriation. Money remaining in the fund at the end of a fiscal year shall not revert to the General Fund and shall be available for expenditure in subsequent fiscal years.

Annually, not later than December 1, the secretary of health and human services shall report to the clerks of the senate and house of representatives and chairs of the senate and house committees on ways and means: (i) an accounting of money received by the fund and the sources of that money; (ii) an accounting of payments made to providers broken down by amounts paid per provider and the authorization for the payments; (iii) the amount of any unexpended balance; and (iv) projected revenue and spending amounts for the coming fiscal year.

Section 2BBBBB. There shall be an Underground Storage Tank Petroleum Product Cleanup Fund. There shall be credited to the fund: (i) the fees imposed under subsection (A) of section 2 of chapter 21J in the manner set forth pursuant to clause (i) of subsection (C) of said section 2 of said chapter 21J; (ii) any appropriation, grant, gift or other contribution made to the fund; and (iii) any interest earned on money in the fund.

Amounts credited to the fund shall be used, subject to appropriation, for the purposes of chapter 21J. Before the calculation of the consolidated net surplus under section 5C, the comptroller shall transfer any remaining balance in the fund to the Commonwealth Transportation Fund established in section 2ZZZ.