Section 1A

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 and 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
29,299
25,922
1,357
0
0
2,020
Tax Transfers
(5,081)
(3,062)
0
0
0
(2,018)
Fiscal 2020 Consensus Tax Revenue Available for Budget
24,218
22,860
1,357
0
0
1
House 1 Tax Initiatives and Other Tax Revenue
278
166
0
84
29
0
Total Taxes Available for the Fiscal 2020 Budget
24,497
23,026
1,357
84
29
1
Non-Tax Revenue Total
19,221
17,728
938
247
290
18
Grand Total
43,718
40,754
2,295
331
319
19
Loading...
    Use left and right arrows to navigate between tabs, up and down arrows to navigate between active tab and its content.