Massachusetts 2023-2024 Regular Session

Massachusetts Senate Bill S1867 Compare Versions

Only one version of the bill is available at this time.

Old	New	Differences
1	1	1 of 1
2	2	SENATE DOCKET, NO. 1281 FILED ON: 1/19/2023
3	3	SENATE . . . . . . . . . . . . . . No. 1867
4	4	The Commonwealth of Massachusetts
5	5	_________________
6	6	PRESENTED BY:
7	7	Jason M. Lewis
8	8	_________________
9	9	To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
10	10	Court assembled:
11	11	The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
12	12	An Act to safeguard fair share amendment revenue.
13	13	_______________
14	14	PETITION OF:
15	15	NAME:DISTRICT/ADDRESS :Jason M. LewisFifth MiddlesexRebecca L. RauschNorfolk, Worcester and Middlesex1/23/2023Patricia D. JehlenSecond Middlesex3/3/2023 1 of 2
16	16	SENATE DOCKET, NO. 1281 FILED ON: 1/19/2023
17	17	SENATE . . . . . . . . . . . . . . No. 1867
18	18	By Mr. Lewis, a petition (accompanied by bill, Senate, No. 1867) of Jason M. Lewis, Rebecca L.
19	19	Rausch and Patricia D. Jehlen for legislation to safeguard fair share amendment revenue.
20	20	Revenue.
21	21	The Commonwealth of Massachusetts
22	22	_______________
23	23	In the One Hundred and Ninety-Third General Court
24	24	(2023-2024)
25	25	_______________
26	26	An Act to safeguard fair share amendment revenue.
27	27	Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
28	28	of the same, as follows:
29	29	1 SECTION 1. Chapter 10 of the General Laws as appearing in the 2020 official edition is
30	30	2hereby amended by inserting after section 78 the following section:-
31	31	3 Section 79. (a) There shall be a Fair Share Trust Fund for the purpose of ensuring that the
32	32	4funds are spent for quality public education and affordable public colleges and universities, and
33	33	5for the repair and maintenance of roads, bridges and public transportation pursuant to the second
34	34	6paragraph of Article XLIV of the Constitution of the commonwealth.
35	35	7 (b) The Fair Share Trust Fund shall be credited with monies received by the
36	36	8commonwealth pursuant to the second paragraph of Article XLIV of the Constitution of the
37	37	9commonwealth. The treasurer and receiver general shall hold in the name of the commonwealth
38	38	10any monies received relative to income surcharge under the second paragraph of Article XLIV of
39	39	11the Constitution of the commonwealth. Funds in the Fair Share Trust Fund shall be disbursed
40	40	12through the annual general appropriations act. 2 of 2
41	41	13 SECTION 2. The General Law are hereby amended by inserting after chapter 62F the
42	42	14following chapter:-
43	43	15 Chapter 62G.
44	44	16 Section 1. (a) All moneies received by the commonwealth pursuant to the second
45	45	17paragraph of Article XLIV of the Constitution of the commonwealth related to the 4 per cent
46	46	18surcharge on that portion of annual taxable income in excess of $1,000,000 reported on any
47	47	19return related to those taxes shall be deposited into the Fair Share Trust Fund established in
48	48	20section 79 of chapter 10 for this purpose.
49	49	21 (b) Tax on income pursuant to the first paragraph Article XLIV of the Constitution of the
50	50	22commonwealth shall not be deposited into the Fair Share Trust Fund established in section 79 of
51	51	23chapter 10 for this purpose.
52	52	24 Section 2. The department of revenue shall submit a report detailing the monies received
53	53	25pursuant to the second paragraph of Article XLIV of the Constitution of the commonwealth
54	54	26quarterly to the comptroller, the executive office of administration and finance, the clerks of the
55	55	27senate and house of representatives, and the chairs of senate and house committees on ways and
56	56	28means.