MA H2613

Bill

Relative to the revenue to the stabilization fund

Introduced
01/22/2019

In Committee
01/22/2019

Crossed Over

Passed

Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

Relative to the commitment of a certain percentage of revenue to the stabilization fund. Revenue.

AI Summary

This bill aims to strengthen the commitment to the Commonwealth Stabilization Fund, which is a budgetary reserve fund used to maintain fiscal stability. The key provisions of the bill include: 1) requiring the governor to submit a balanced budget, where the consolidated net surplus (the sum of undesignated balances in budgetary funds) is at least 0.5% of revenue receipts, and where at least 0.5% of revenue receipts is transferred to the Stabilization Fund; 2) prohibiting any transfers from the Stabilization Fund without a recorded roll call vote; and 3) mandating the annual transfer of 0.5% of the prior year's tax revenue to the Stabilization Fund, with any remaining consolidated net surplus also being transferred to the Fund.

Committee Categories

Budget and Finance

Sponsors (3)

Patrick Kearney (D), John Rogers (D), Angelo Scaccia (D),

Last Action

Accompanied a study order, see H5080 (on 11/02/2020)

Official Document

https://malegislature.gov/Bills/191/H2613

(11 Companion Bills)

Version:

Document Type	Source Location
State Bill Page	https://malegislature.gov/Bills/191/H2613
Bill	https://malegislature.gov/Bills/191/H2613.pdf

Bill	Bill Name	Last Action	Type
H2598	Relative to equalizing the Department of Revenue interest rates	Accompanied H2512	Similar To
H2643	Resolve to study the loss of revenues of the Commonwealth	Accompanied a study order, see H5080	Similar To
H2644	To sustain community preservation revenue	Accompanied a study order, see H5080	Similar To
H3953	Establishing an economic development special revenue account for the town of Ashland	Signed by the Governor, Chapter 193 of the Acts of 2020	Similar To
H5080	Study Order	Discharged to the committee on House Rules	Replaced by
S1196	Relative to marijuana-related revenue in the town of Millbury	Read second and ordered to a third reading	Similar To
S1640	To support voluntary income tax assistance sites and expand access to the earned income tax credit	Accompanied H2434	Similar To
S1725	Relative to equalizing the Department of Revenue interest rates	Accompanied H2512	Similar To
S1865	To require periodic regulatory review at the Department of Revenue	Accompanied a study order, see S2569	Similar To
S1928	To equitably support enhanced 911 service	Accompanied a study order, see S2552	Similar To
S2195	Crediting the stabilization fund for the sale of Fuller School in the city of Gloucester	Signed by the Governor, Chapter 27 of the Acts of 2019	Similar To

Bill > H2613

MA H2613

summary

Introduced Session

Bill Summary

AI Summary

Committee Categories

Sponsors (3)

Last Action

Official Document

bill text

bill summary

bill summary

bill summary