Section 35M Board of Registration in Medicine Trust Fund - Massachusetts Statutes

Section 35M. There shall be established upon the books of the commonwealth a separate fund to be known as the Board of Registration in Medicine Trust Fund to be used, without prior appropriation, by the board of registration in medicine established in section 10 of chapter 13. Forty per cent of the revenues collected by said board shall be deposited into said trust fund; provided however, that 100 per cent of revenues collected by the board that are generated by any increase in the licensing fee occurring after January 1, 2002 shall be deposited into said trust fund. All monies deposited into said fund shall be expended exclusively by the board for its operations and administration. The board may incur expenses, and the comptroller may certify for payment, amounts in anticipation of expected receipts; but no expenditure shall be made from said fund which shall cause said fund to be in deficit at the close of a fiscal year.