summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
Relative to the commitment of a certain percentage of revenue to the stabilization fund. Revenue.
AI Summary
This bill requires the governor to submit a balanced budget to the state legislature, where the consolidated net surplus at the end of the fiscal year must be greater than or equal to 0.5% of revenue receipts, and at least 0.5% of revenue receipts must be transferred to the Commonwealth Stabilization Fund. The bill also specifies the process for certifying and distributing the consolidated net surplus, with 0.5% of the prior year's tax revenue available for the current fiscal year and 0.5% transferred to the Stabilization Fund, and any remaining surplus also going to the Stabilization Fund.
Committee Categories
Budget and Finance
Sponsors (2)
Last Action
Accompanied a study order, see H4244 (on 02/22/2018)
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/190/H1621 |
| Bill | https://malegislature.gov/Bills/190/H1621.pdf |
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