§ 1 Preamble
§ 2 Definitions
§ 3 Limitation on growth of allowable state tax revenues
§ 4 Adjustments to allowable state tax revenues
§ 5 State auditor; oversight; monthly reports
§ 6 Effect of net state tax revenues in excess of allowable state tax revenues; tax credit
§ 7 Taxpayer suits
§ 8 Severability
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Terms Used In Massachusetts General Laws > Chapter 62F - Limitation On the Growth of State Tax Revenues

  • 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.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Remainder: An interest in property that takes effect in the future at a specified time or after the occurrence of some event, such as the death of a life tenant.