Section 2ZZZZZ. There shall be established and set up on the books of the commonwealth a separate fund known as the Commonwealth Taxpayer Relief Fund. The fund shall be credited with appropriations or other money authorized or transferred by the general court and specifically designated to be credited to the fund. Amounts credited to the fund shall be expended to support the implementation of new tax relief measures taking effect in tax year 2022 and thereafter. Money remaining in the fund at the end of a fiscal year shall not revert to the General Fund. The fund shall not be subject to section 5C of chapter 29.

Terms Used In Massachusetts General Laws ch. 29 sec. 2ZZZZZ

  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
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