Governor Deval Patrick's Budget Recommendation - House 1 Fiscal Year 2012

Governor's Budget Recommendation FY 2012

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Outside Section 49

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Life Sciences Transfer from FY11 Surplus

SECTION 49.   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 2011 as follows: (i) the comptroller shall transfer $10,000,000 from the General Fund to the Massachusetts Life Sciences Investment Fund established by section 6 of chapter 23I of the General Laws; and (ii) the remaining balance shall be transferred from the General Fund to the Commonwealth Stabilization Fund.

This section funds the Life Sciences Investment Fund with $10 million from any budget surplus at the close of fiscal year 2011.

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