Bill > H49

This bill addresses the fiscal year 2015 budget shortfall by implementing several measures, including reducing appropriations for most state departments and agencies by 1.79% and for public higher education institutions by 1.5%, unless specific reduction plans are submitted and approved. It also allows departments and institutions to meet these reduction targets by transferring non-appropriated resources to the General Fund, which is the state's main operating fund. Certain appropriations, such as unrestricted local aid and state school aid, are exempt from these cuts. The bill also makes adjustments to specific appropriation items, amends existing laws related to transfers between funds, and establishes a 60-day tax amnesty program for corporations during fiscal year 2015, waiving penalties for those who come into compliance with tax laws by June 30, 2015, though interest and penalties related to fraud or criminal investigations are not waived. Finally, it allows the MassHealth program to restructure benefits within appropriated levels to manage costs, provided such changes comply with federal law.