summary
Introduced
01/23/2017
01/23/2017
In Committee
01/23/2017
01/23/2017
Crossed Over
Passed
Dead
12/31/2018
12/31/2018
Introduced Session
190th General Court
Bill Summary
For legislation to establish a Massachusetts Transportation Endowment Fund (MTEF). Transportation.
AI Summary
This bill establishes a Massachusetts Transportation Endowment Fund (MTEF) to provide a consistent source of capital funding for the expansion and improvement of the state's mass transit system. The bill requires an annual transfer of at least $200 million to the MTEF, which will operate as a permanent trust fund. The income generated by the MTEF can only be used for capital construction and improvements of mass transit lines, stations, and facilities. Once the MTEF principal exceeds $1 billion, the funding formula will change, with half of the annual contribution going towards capital expenditures and the other half going towards increasing the endowment principal. The bill also creates a Capital Project Approval Board (CPAB) to review and prioritize potential capital projects funded by the MTEF.
Committee Categories
Transportation and Infrastructure
Sponsors (1)
Last Action
Accompanied a study order, see S2435 (on 04/17/2018)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://malegislature.gov/Bills/190/S1944 |
| Bill | https://malegislature.gov/Bills/190/S1944.pdf |
Loading...