Section 93 FY23 Stabilization Fund Transfer

(a) For fiscal year 2023, to the extent funds are available, the comptroller shall transfer $680,717,903, or such amount as may be required, to the Commonwealth Stabilization Fund established in section 2H of chapter 29 of the General Laws, in the manner described in section 5G of said section 29.

(b) In addition, the following activities and events are expected to result in the amounts set forth below being deposited in the Commonwealth Stabilization Fund:

(1) $21,722,876 from gaming revenues, as provided in clause (f) of paragraph (2) of section 59 of chapter 23K of the General Laws;

(2) $34,687,500 from growth in abandoned property net revenue, as provided in section 5H of chapter 29 of the General Laws; and

(3) $12,000,000 from other sources.

(c) The total deposit made as a result of the actions described in subsections (a) and (b) of this section is expected to be $749,128,279.

This section describes the anticipated effect of transfers to the Stabilization Fund under Section 5G of Chapter 29 of the General Laws as well as the anticipated impact of the transfers and events that are anticipated in this legislation.