The bill provides a comprehensive report on the actual revenue collections for the Commonwealth of Massachusetts for Fiscal Year 2024, comparing them to the budget estimates from Chapter 28 of the Acts of 2023. It details various revenue sources, including taxes from alcoholic beverages, corporations, and sales, as well as non-tax revenues from departments such as Health and Human Services and Education. The total tax revenue is projected at $32,398,200, while non-tax revenue is estimated at $24,152,800, culminating in a grand total of $56,551,000 for the fiscal year. The report also includes specific insertions in legal language, such as revenue estimates in thousands and a breakdown of revenue by source and department.
Additionally, the bill outlines significant budget allocations and revenue estimates for various departments, with a notable increase in funding for Public Safety and Security, rising from 390,714 to 493,947, reflecting a 126.4% change. The Massachusetts Peace Officer Standards and Training Commission is introduced with a budget of zero, indicating a new focus in this area. Other sectors, such as Economic Development and Labor and Workforce Development, also see substantial budget increases, with the Economic Development budget rising from 230,755 to 246,838 and the Labor and Workforce Development budget reaching 21,673. Overall, the bill emphasizes strategic investments in public safety, economic growth, and workforce development through specific new allocations and adjustments to existing budgets.