BOSTON (WWLP) - Just minutes before the fiscal year 2026 budget-writing process began on Mond, lawmakers sent their fiscal year 2024 closeout bill to Governor Healey's desk. Through this bill, House and Senate Democrats decided to redirect more than half a billion dollars--to close a budget gap and fund additional spending--that would usually be sent to the state's long-term savings account. This budget gap was caused primarily by lower-than-expected tax collections from non-income surtaxes. Usually, tax revenue above a certain threshold is split up with 90% headed to the long-term savings fund, 5% going to pension, and 5% for other post-retirement benefits. The bill makes the one-time promise to send 85% of the excess tax revenue to the general fund to address the budget gap and send just 5% to long-term savings. Pensions and other post-retirement benefits will continue to receive 5% of the excess each. According to a Ways and Means insider, this closeout budget has a $701.2 million dollar bottom line and will have a price tag of $133.6 million dollars to the state. It allows for extra spending in several areas, including free school lunches and start-up costs for the online lottery, but a majority of the money will be set aside for MassHealth. The budget gap, and the state's methods for fixing it, will inform the budget-writing process and tax revenue collection expectations for the coming years. Looking ahead, Governor Healey has 10 days to sign this budget closeout, which was technically required to be finished in October. Local News Headlines WEATHER ALERT: Snow Wednesday evening through Thursday morning Marcotte Ford donates $10K in gifts to families in need Local organizations participate in ‘Giving Tuesday’ in hopes of gaining community support & raise funds Lawmakers’ plan for closing the budget gap WWLP-22News, an NBC affiliate, began broadcasting in March 1953 to provide local news, network, syndicated, and local programming to western Massachusetts. Watch the 22News Digital Edition weekdays at 4 p.m. on WWLP.com.