Bill > H2999

This bill establishes a new payroll tax to increase funding for mass transportation and creates a Transportation Finance Advisory Board. The payroll tax will be 0.75% of wages paid by employers on any employee earning over $100,000 annually, with these tax payments to be deposited into the Commonwealth Transportation Fund. Funds from this tax will then be distributed to the Massachusetts Bay Transportation Authority (MBTA) and regional transit authorities based on factors like location, ridership, and repair needs, with distributions intended to maintain transit systems, reduce fare increases, and pay off debt. The bill also creates a Transportation Finance Advisory Board, composed of twelve appointed members representing various sectors and geographic areas, plus the Secretary of Transportation, to annually review transportation funding adequacy, the Department of Transportation's budget, and the use of transportation funds, publishing recommendations and reports.