summary
Introduced
02/16/2023
02/16/2023
In Committee
02/16/2023
02/16/2023
Crossed Over
Passed
Dead
12/31/2024
12/31/2024
Introduced Session
193rd General Court
Bill Summary
For legislation to establish a millionaire’s tax trust fund. Revenue.
AI Summary
This bill establishes a "Millionaire's Tax Trust Fund" to retain funds received by the Commonwealth of Massachusetts under Article CXXI of the state constitution. The funds in the trust will be appropriated for improving public education and colleges, as well as repairing roads, bridges, and public transportation. Any unexpended funds at the end of the fiscal year will remain in the trust and be available for expenditure in subsequent years. The Commissioner of Revenue is required to annually report on the activities of the fund, including the amounts credited, expended, and any remaining balance.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H4725 (on 06/17/2024)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/193/S1849 |
| BillText | https://malegislature.gov/Bills/193/S1849.pdf |
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