Bill > H2671

This bill establishes a new fund called the "One-Time Capital Expenditure Fund" within the Commonwealth's financial system. This fund will be replenished by money specifically appropriated or transferred into it, any earnings from investing the money in the fund, and importantly, all "Part C taxable income" collected annually by the Commissioner of Revenue. "Part C taxable income" refers to a specific category of income subject to taxation under Section 2(h) of Chapter 62 of the General Laws, after any refunds or adjustments are made. The key purpose of this fund is to finance one-time capital needs of the Commonwealth, as decided by the legislature, and explicitly not for ongoing operational costs.