Bill > S971

This bill proposes to amend Section 2WWW of chapter 29 of the General Laws, which pertains to the Workforce Competitiveness Trust Fund. Specifically, it will replace the existing subsection (d) with new language that clarifies how money is credited to the fund. The changes indicate that the fund will receive 0.3% of the total revenue from taxes paid under chapter 63, which refers to taxes on corporations, as well as any money specifically designated for the fund by the general court, along with gifts, grants, private contributions, investment income, and other sources. Importantly, any money left in the fund at the end of a fiscal year will not be returned to the General Fund, meaning it will remain available for future use by the Workforce Competitiveness Trust Fund.