Section 1A - Revenue by Source and Fund

SECTION 1A. In accordance with Articles LXIII and CVII of the Amendments to the Constitution and section 6D of chapter 29 of the General Laws, it is hereby declared that the amounts of revenue set forth in this section by source for the respective funds of the commonwealth for the fiscal year ending June 30, 2018 are necessary and sufficient to provide the means to defray the appropriations from such funds for this fiscal year as set forth and authorized in sections 2 , 2B and 2E . The comptroller shall keep a distinct account of actual receipts from each such source by each such fund to furnish the executive office for administration and finance and the house and senate committees on ways and means with quarterly statements comparing such receipts with the projected receipts set forth in this section and to include a full statement comparing such actual and projected receipts in the annual report for the fiscal year ending June 30, 2018 pursuant to subsection (a) of section 12 of chapter 7A of the General Laws. The quarterly and annual reports shall also include detailed statements of any other sources of revenue for the budgeted funds in addition to those specified in this section.

Fiscal Year 2018 Revenue by Source Fund (in Millions)

Source


All
Budgeted
Funds



General
Fund


Commonwealth
Transportation
Fund


Massachusetts
Tourism
Fund

Gaming
Local
Aid
Fund



Other *
Fiscal 2018 Consensus Tax Revenue Estimate
Alcoholic Beverages 84.7 84.7 0.0 0.0 0.0 0.0
Cigarettes 502.7 502.7 0.0 0.0 0.0 0.0
Corporations 2,279.6 2,279.6 0.0 0.0 0.0 0.0
Deeds 300.1 300.1 0.0 0.0 0.0 0.0
Estate Inheritance 402.9 402.9 0.0 0.0 0.0 0.0
Financial Institutions (5.4) (5.4) 0.0 0.0 0.0 0.0
Income 15,664.7 15,664.7 0.0 0.0 0.0 0.0
Insurance 414.6 414.6 0.0 0.0 0.0 0.0
Motor Fuels 786.0 0.0 785.0 0.0 0.0 1.0
Public Utilities 0.0 0.0 0.0 0.0 0.0 0.0
Room Occupancy 175.1 175.1 0.0 0.0 0.0 0.0
Sales - Regular 4,381.5 4,381.5 0.0 0.0 0.0 0.0
Sales - Meals 1,165.1 1,165.1 0.0 0.0 0.0 0.0
Sales - Motor Vehicles 874.7 307.4 567.3 0.0 0.0 0.0
Miscellaneous 22.8 22.8 0.0 0.0 0.0 0.0
Unemployment Insurance Surcharges 22.9 0.0 0.0 0.0 0.0 22.9
Total Tax Revenues: 27,072.0 25,695.8 1,352.3 0.0 0.0 23.9
House 1 Tax Initiatives and Other Tax Revenue
Tax Settlements 100.0 100.0 0.0 0.0 0.0 0.0
Tax Modernization Proposals 187.0 185.4 1.6 0.0 0.0 0.0
Veterans Employment Tax Credit (1.0) (1.0) 0.0 0.0 0.0 0.0
Capital Gains to Stabilization Fund 0.0 (51.5) 0.0 0.0 0.0 51.5
Total Tax Revenues: 286.0 232.9 1.6 0.0 0.0 51.5
Annual Contribution to the State Pension System (2,394.5) (2,394.5) 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the MBTA (1,021.6) (1,021.6) 0.0 0.0 0.0 0.0
Sales Tax Dedicated to the SBA (861.6) (861.6) 0.0 0.0 0.0 0.0
Workforce Training Trust Fund (22.9) 0.0 0.0 0.0 0.0 (22.9)
Total Transfers: (4,300.6) (4,277.7) 0.0 0.0 0.0 (22.9)
Total Taxes Available for the Fiscal 2018 Budget 23,057.4 21,651.0 1,353.9 0.0 0.0 52.5
Non-Tax Revenue
Federal Reimbursements 11,437.0 11,430.8 0.0 0.0 0.0 6.2
Departmental Revenues 4,458.2 3,736.3 699.5 0.0 0.0 22.3
Consolidated Transfers 2,087.3 1,948.9 40.0 0.0 64.4 34.0
Non-Tax Revenue Total 17,982.5 17,116.0 739.5 0.0 64.4 62.5
Grand Total 41,039.9 38,767.0 2,093.4 0.0 64.4 115.0
* Workforce Training Trust Fund, Stabilization Fund, and Inland Fisheries and Game Fund