Bill > S1454

This bill establishes a new payroll tax in Massachusetts to increase funding for transportation, with employers paying a tax of 0.75% on the payroll of employees whose wages exceed $100,000 annually, starting January 1, 2014. The revenue generated 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, ridership, and repair needs, with these distributions being in addition to existing funding. Additionally, the bill creates a Transportation Finance Advisory Board, composed of twelve governor-appointed members representing diverse interests and one ex-officio member (the Secretary of Transportation), tasked with annually reviewing the adequacy of transportation funding, the Department of Transportation's budget, and the use of funds, and then making recommendations in a public report.