Bill > H1951

This bill amends Chapter 23K of Massachusetts law by adding a new section. The key provisions are: 1. Beginning in the fifth year after the Gaming Local Aid Fund (created under Section 63 of Chapter 23K) receives funds, if the total funds in the Gaming Local Aid Fund and the Local Aid Stabilization Fund (created in Section 93 of this Act) exceed $100,000,000, up to $20,000,000 from the Local Aid Stabilization Fund will be set aside. 2. This set-aside money will be used to supplement unrestricted local aid distributions to cities and towns that, through normal distribution calculations, do not receive unrestricted local aid equal to at least 10% of the Massachusetts State Lottery revenues generated in their community. 3. If the set-aside funds are insufficient to bring all such communities up to 10% of Lottery revenues, the funds will be prorated among them to bring each as close to 10% as possible. 4. This provision does not apply in any year where additional funds are added to the Gaming Local Aid Fund under Section 59(f) of Chapter 23K.

Budget and Finance, Business and Industry

https://malegislature.gov/Bills/190/H1951