Bill > H3613

This bill aims to improve the reliability and sustainability of the Massachusetts Bay Transportation Authority (MBTA) by restructuring its governance and financial oversight. Key provisions include establishing a Fiscal and Management Control Board (FMCB) with broad powers to stabilize the MBTA's finances and operations, including setting budgets, fares, and reviewing contracts, with this board set to exist until at least June 30, 2018, and potentially for an additional two years. The bill also modifies the composition and responsibilities of the Massachusetts Department of Transportation (MassDOT) board of directors, ensuring representation from various stakeholders like riders and municipal governments, and creates an Office of Rail and Maritime Planning and Policy Development within MassDOT to focus on ports, rail, and waterways. Additionally, it allows Regional Transit Authorities (RTAs) to create Enterprise Funds for specific projects, enabling them to issue special obligation bonds, and authorizes the transfer of MBTA ferry services to Massport. The bill also mandates studies on transportation governance best practices and the feasibility of aligning MBTA employee retirement benefits with state pension laws, and directs the secretary of transportation to develop a plan for transferring employee salaries from the capital budget to the operating budget.