Excess Capital Gains Distribution
Mr. Tarr moves that the proposed new text be amended by striking section 94 in its entirety and inserting in place thereof the following:- "SECTION 94. Notwithstanding any general or special law to the contrary, at the direction of the secretary of administration and finance, the comptroller shall make tax revenue collected from capital gains income above the threshold established in section 5G of chapter 29 of the General Laws in fiscal year 2025 available to the General Fund in the amount necessary to eliminate any deficits in the budgetary funds pursuant to section 5C of said chapter 29. After satisfying the previous provision, the comptroller shall transfer any remaining excess capital …
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