About
The Liability Management and Reduction Fund is used to pay costs that departments incur as a result of tort claims. Tort claims are claims for damages or loss of property, personal injury or death caused by the negligence, wrongful act or omission of a state or special employee (s) acting within the scope of their authority.
As required by Chapter 29, Section 2TT of the Massachusetts General Laws, an annual financial plan, and subsequent report, for the Liability Management and Reduction Fund is to be submitted by the Office of the Comptroller.
The plan presents the expected and proposed revenues from the fund and is typically published in the first half of the fiscal year (autumn).
The report details actual activities of the fund and is typically published in the second half of the fiscal year (spring).
The Office of the Comptroller submits an annual financial plan and report to present the activities of the Liability Management and Reduction Fund to the House and Senate Committees on Ways and Means, the Secretary of Administration and Finance, and the Attorney General.