Massachusetts General Laws ch. 44 sec. 30 – Determination of amount of appropriation for departments
Section 30. A city, except Boston, wherein the appropriation for any department is determined by law at a certain rate or percentage of the taxable valuation or the valuation of the taxable property therein, or however otherwise the same may be described, shall, in addition to the amount so determined, appropriate and use for such department such proportion of the proceeds of the tax upon incomes, returned by the commonwealth to the city under section eighteen of chapter fifty-eight, as the appropriation so determined by law bears to the total local tax levy of that city for the current fiscal year; but in each fiscal year such departments shall be credited with their proportion of the income tax received during the preceding fiscal year.
Terms Used In Massachusetts General Laws ch. 44 sec. 30
- 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.