Whereas , The deferred operation of this act would tend to defeat its purpose, which is to transfer certain monies to the General Fund, therefore it is hereby declared to be an emergency law, necessary for the immediate preservation of the public convenience.

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:

SECTION 1. Notwithstanding any general or special law to the contrary, for fiscal year 2004 amounts needed to meet the obligations under section 35S of chapter 10 of the General Laws may be expended from amounts in the Teacher, Principal and Superintendent Quality Endowment Fund including principal. Any remaining balance in the Fund shall be transferred to the General Fund.

SECTION 2. This act shall take effect as of June 30, 2003.