Massachusetts General Laws ch. 29 sec. 2VVVVV – Massachusetts Inclusive Concurrent Enrollment Initiative Trust Fund
Section 2VVVVV. (a) There shall be a Massachusetts Inclusive Concurrent Enrollment Initiative Trust Fund that shall be administered by the commissioner of higher education, in consultation with the executive office of education. The fund shall consist of: (i) amounts credited to the fund from any appropriations, grants, gifts or other money authorized by the general court or another party and specifically designated to be credited to the fund; and (ii) any income derived from the investment of amounts credited to the fund. Any unexpended balance in the fund at the end of a fiscal year shall not revert to the General Fund and shall be available for expenditure in the subsequent fiscal year.
Terms Used In Massachusetts General Laws ch. 29 sec. 2VVVVV
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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.
- Joint committee: Committees including membership from both houses of teh legislature. Joint committees are usually established with narrow jurisdictions and normally lack authority to report legislation.
(b) All amounts credited to the fund shall be used without further appropriation to make grants to support public institutions of higher education providing access to inclusive higher education opportunities to students with severe intellectual disabilities, severe autism spectrum disorder or other severe developmental disabilities pursuant to section 30A of chapter 15A.
(c) Annually, not later than October 1, the commissioner shall report to the clerks of the senate and house of representatives, the joint committee on higher education and the senate and house committees on ways and means on the activities of the fund.