Bill > H3061

This bill establishes a new payroll tax to increase funding for mass transportation and creates a Transportation Finance Advisory Board. Starting January 1, 2014, employers will pay a tax of 0.75% on the payroll of employees whose wages exceed $100,000 annually. These tax payments will be deposited into the Commonwealth Transportation Fund and then distributed to the Massachusetts Bay Transportation Authority (MBTA) and regional transit authorities based on factors like location within service areas, ridership, and repair needs, with specific allocations for maintaining the MBTA system, reducing fare increases, and paying MBTA debt. The bill also establishes a Transportation Finance Advisory Board, composed of twelve appointed members and the Secretary of Transportation, to annually review the adequacy of transportation funding, the Department of Transportation's budget, and the use of transportation funds, making recommendations and publishing an annual report.