Bill > S4

This bill proposes the following key provisions: 1. It appropriates funds for the operation of various state departments, boards, commissions, and institutions for the fiscal year ending June 30, 2023. The total appropriation is $51,318.7 million, with the majority coming from the General Fund ($47,840.3 million). 2. It establishes revenue estimates for the commonwealth for fiscal year 2023, including estimates for various tax revenue sources such as income tax, sales tax, and corporate taxes. The total consensus tax revenue for fiscal year 2023 is estimated to be $29,783.2 million. 3. It provides for the distribution of unrestricted general government aid to cities and towns from the State Lottery and Gaming Fund, totaling $1,231,197,474. The aid is to be distributed in accordance with the provisions of this section. 4. It calculates chapter 70 school aid for fiscal year 2023 using the provisions of the Student Opportunity Act, including adjustments to foundation budget rates and foundation increments. The minimum aid per pupil dollar amount is set at $60. 5. It establishes base rates and incremental rates for various categories of students, including special education, English learners, and low-income students, to be used in the calculation of chapter 70 aid. 6. It includes provisions related to the treatment of health care costs for retired teachers in the calculation of net school spending. 7. It allows for advance payments to be made to cities, towns, regional school districts, and agricultural schools that demonstrate an emergency cash shortfall. Overall, the bill provides for the appropriation of funds and the distribution of aid to state agencies, municipalities, and school districts for the upcoming fiscal year, while implementing changes to the chapter 70 education funding formula.

Senate Committee on Ways and Means (S)

https://malegislature.gov/Bills/192/S4