Bill > H4057

This bill authorizes significant funding for transportation improvements across the state, allocating $750 million for projects on the federal highway system, $200 million for the construction and reconstruction of municipal roads (referred to as "municipal ways"), and $50 million for the "Small Bridge Program" which focuses on nonfederally-aided bridges with spans up to 20 feet. To finance these initiatives, the state treasurer will issue bonds totaling $1.35 billion, with specific bond acts named for each funding category, such as the "Transportation Improvement Loan Act of 2016" and the "Municipal Ways Act of 2016," all of which are general obligations of the commonwealth and must be repaid by June 30, 2051. Additionally, the bill includes provisions for price adjustment clauses in construction contracts funded by the municipal ways program to account for fluctuations in the cost of fuel, asphalt, concrete, and steel, and it also allocates $110,000 for environmental protection along highways in Needham.