Bill

Bill > S2110


MA S2110

To establish a Massachusetts Transportation Endowment Fund (MTEF)


summary

Introduced
01/22/2019
In Committee
01/22/2019
Crossed Over
Passed
Dead
12/31/2020

Introduced Session

191st General Court

Bill Summary

For legislation to establish a Massachusetts Transportation Endowment Fund (MTEF). Transportation.

AI Summary

This bill establishes the Massachusetts Transportation Endowment Fund (MTEF), a permanent trust fund that will provide a dedicated source of capital funding for the expansion and improvement of the state's mass transit system, including fixed rail lines, stations, and other facilities. The bill requires an annual transfer of at least $200 million to the MTEF, which will be managed as an endowment. Once the fund's principal exceeds $1 billion, the annual allocation will be split between capital expenditures and further growth of the endowment principal. The bill also creates a Capital Project Approval Board to review and prioritize potential projects to be funded by the MTEF.

Committee Categories

Transportation and Infrastructure

Sponsors (1)

Last Action

Accompanied a study order, see S2560 (on 02/24/2020)

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