An Act to safeguard fair share amendment revenue

This bill creates a new Fair Share Trust Fund to hold money collected from a specific income tax surcharge in Massachusetts. It ensures that only revenue from the 4 percent tax on income over $1 million goes into this fund, while excluding regular income taxes. The money in the fund must be used for public education, affordable colleges, and road or bridge repairs, and it will be distributed through the annual state budget. Additionally, the bill requires the state's revenue department to send quarterly reports on how much money is collected to government officials and legislative committees.