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, 2020 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, 2020 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 2020 Revenue by Source Fund (in Millions)

Source

All
Budgeted
Funds

 
General
Fund

Commonwealth
Transportation
Fund

Other
Major
Funds*

Commonwealth
Stabilization
Fund

 
Other Funds**
Fiscal 2020 Consensus Tax Revenue Estimate
Alcoholic Beverages 89.0 89.0 0.0 0.0 0.0 0.0
Banks 0.3 0.3 0.0 0.0 0.0 0.0
Cigarettes 463.1 463.1 0.0 0.0 0.0 0.0
Corporations 2,408.6 2,408.6 0.0 0.0 0.0 0.0
Deeds 360.0 360.0 0.0 0.0 0.0 0.0
Income 17,140.0 17,139.7 0.0 0.0 0.3 0.0
Inheritance and Estate 395.1 395.1 0.0 0.0 0.0 0.0
Insurance 493.0 468.5 0.0 0.0 0.0 24.5
Motor Fuel 775.0 0.0 773.9 0.0 0.0 1.0
Public Utilities 0.0 0.0 0.0 0.0 0.0 0.0
Room Occupancy 175.2 175.2 0.0 0.0 0.0 0.0
Sales - Regular 4,837.0 3,154.1 0.0 0.0 0.0 1,682.9
Sales - Meals 1,254.0 1,254.0 0.0 0.0 0.0 0.0
Sales - Motor Vehicles 894.0 0.0 583.0 0.0 0.0 311.0
Miscellaneous 14.6 14.6 0.0 0.0 0.0 0.0
Fiscal 2020 Consensus Tax Revenue Estimate 29,299.0 25,922.3 1,356.9 0.0 0.3 2,019.5
 
Tax Transfers
Annual Contribution to the State Pension System (2,841.5) (2,841.5) 0.0 0.0 0.0 0.0
Sales Tax Transfer to the MBTA (1,077.0) 0.0 0.0 0.0 0.0 (1,077.0)
Sales Tax Transfer to the MSBA (917.0) 0.0 0.0 0.0 0.0 (917.0)
UI Surcharge to the Workforce Training Trust Fund (24.5) 0.0 0.0 0.0 0.0 (24.5)
Excess Capital Gains Tax to Stabilization Fund (220.6) (220.6) 0.0 0.0 0.0 0.0
Subtotal, Tax Transfers (5,080.6) (3,062.1) 0.0 0.0 0.0 (2,018.4)
 
Fiscal 2020 Consensus Tax Revenue Available for Budget 24,218.4 22,860.2 1,356.9 0.0 0.3 1.0
 
House 1 Tax Initiatives and Other Tax Revenue
Tax-Related Settlements & Judgments 50.0 50.0 0.0 0.0 0.0 0.0
Sales Tax Acceleration 306.0 0.0 0.0 0.0 28.6 277.4
  Transferred to Off-Budget Trusts (277.4) 0.0 0.0 0.0 0.0 (277.4)
Recreational Marijuana 132.5 33.1 0.0 83.8 0.0 15.6
  Transferred to Off-Budget Trusts (15.6) 0.0 0.0 0.0 0.0 (15.6)
Sales Tax Marketplace 41.7 28.4 0.0 0.0 0.0 13.3
  Transferred to Off-Budget Trusts (13.3) 0.0 0.0 0.0 0.0 (13.3)
Transient Accommodation/Room Occupancy Tax 27.5 27.5 0.0 0.0 0.0 0.0
Opioid gross receipts tax 14.0 14.0 0.0 0.0 0.0 0.0
Vaping 6.0 6.0 0.0 0.0 0.0 0.0
Life Sciences 5.0 5.0 0.0 0.0 0.0 0.0
Withholding on non-resident property sales 4.0 4.0 0.0 0.0 0.0 0.0
  Excess Capital Gains Transferred to Stabilization Fund (4.0) (4.0) 0.0 0.0 0.0 0.0
Sales Tax Integrity 2.0 1.8 0.0 0.0 0.0 0.2
  Transferred to Off-Budget Trusts (0.2) 0.0 0.0 0.0 0.0 (0.2)
Subtotal, House 1 Tax Initiatives and Other Tax Revenue 278.2 165.8 0.0 83.8 28.6 0.0
 
Total Taxes Available for the Fiscal 2020 Budget 24,496.6 23,026.0 1,356.9 83.8 28.9 1.0
 
Non-Tax Revenue
Federal Reimbursements 11,640.7 11,632.8 0.0 0.0 0.0 7.9
Departmental Revenues 5,096.7 4,306.0 692.1 44.5 44.2 10.0
Consolidated Transfers 2,483.8 1,789.5 245.6 202.5 246.1 0.2
Subtotal, Non-Tax Revenue Total 19,221.2 17,728.3 937.7 246.9 290.3 18.1
 
Grand Total 43,717.9 40,754.2 2,294.6 330.7 319.2 19.1
* Other major funds include the Local Capital Projects Fund, Gaming Local Aid Fund, Education Fund, Gaming Economic Development Fund, Marijuana Regulation Fund, and the Underground Storage Tank Petroleum Product Fund.
** Other funds include the Public Safety Training Fund, Inland Fish & Game Fund, Marine Recreational Fisheries Development Fund, and the Local Aid Stabilization Fund, as well as revenue transferred to the Massachusetts Bay Transportation Authority, Massachusetts School Building Authority, the Workforce Training Trust Fund, the College Affordability and Success Trust Fund, the Public School Improvement Trust Fund, and the School Safety Trust Fund.

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