Bill > H4987

This bill authorizes the financing of long-term improvements to municipal roads and bridges by allowing the state treasurer to issue and sell bonds of the commonwealth, not exceeding an aggregate of $2,300,000,000, to fund various transportation projects. These projects include the construction and reconstruction of municipal ways, bridge and pavement maintenance, transportation capital projects to support housing development, and improvements to multi-modal transportation infrastructure. The bill also makes adjustments to previously authorized funding amounts for these programs and specifies that the bonds will be general obligations of the commonwealth, with the option for the governor to request they be issued as special obligation bonds, which would be payable from the Commonwealth Transportation Fund. The funding is intended to address deferred maintenance, modernize infrastructure, and improve safety and resilience, with a portion allocated to municipalities based on local road mileage and a requirement for cities and towns to develop long-term capital plans.

Transportation and Infrastructure

https://malegislature.gov/Bills/194/H4987