Bill > S1896

This bill establishes a new "Massachusetts Support Our Schools Fund" to help cities and towns cover costs related to public schools, such as development, maintenance, and operation. This fund will be comprised of all money collected from the sale of special distinctive motor vehicle registration plates that commemorate Massachusetts Public Schools as "The Spirit of Massachusetts." These special plates will be available for private passenger vehicles, and in addition to the regular registration fee, there will be a biennial (every two years) fee of at least $40 for these plates. After deducting the costs of producing and issuing these plates, the remaining funds will be transferred to the Support Our Schools Fund within 90 days of receipt. The state treasurer will manage this fund to ensure it earns the highest possible interest rate while remaining safe, with the goal of making these funds available for annual appropriations to individual municipalities, with each municipality receiving an amount equal to the "Support Our Schools" registration fees collected from its residents.