Massachusetts § 2AAAA - State Athletic Commission Fund

§ 2AAAA. State Athletic Commission Fund

Section 2AAAA. There shall be a State Athletic Commission Fund, which shall be a separate, nonbudgeted special revenue fund to be administered by the division of occupational licensure. The fund shall be credited with: (i) appropriations, bond proceeds or other money authorized or transferred by the general court and specifically designated to be credited to the fund; and (ii) any monies from licensing fees or other fees and fines collected under sections 32 to 35, inclusive, 40, 40A and 42 of chapter 147 and section 12 of chapter 265. Amounts credited to the fund shall be available for expenditure without further appropriation up to $500,000 each fiscal year for the costs of operating and administering the state athletic commission; provided, however, that if the amount remaining in the fund exceeds $500,000 at the end of a fiscal year, such excess amount shall revert to the General Fund and be made available for appropriation. For the purposes of accommodating discrepancies between the receipt of retained revenues and related expenditures, the department may incur expense and the comptroller may certify for payment amounts not to exceed the lower of this authorization or the most recent revenue estimate as reported in the state accounting system.