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SENATE DOCKET, NO. 1437 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 2258
The Commonwealth of Massachusetts
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PRESENTED BY:
Jason M. Lewis, (BY REQUEST)
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To the Honorable Senate and House of Representatives of the Commonwealth of Massachusetts in General
Court assembled:
The undersigned legislators and/or citizens respectfully petition for the adoption of the accompanying bill:
An Act to establish a Massachusetts Transportation Endowment Fund (MTEF).
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PETITION OF:
NAME:DISTRICT/ADDRESS :Vincent Lawrence Dixon60 Lake Street Unit N, Winchester MA
01890 1 of 3
SENATE DOCKET, NO. 1437 FILED ON: 1/19/2023
SENATE . . . . . . . . . . . . . . No. 2258
By Mr. Lewis (by request), a petition (accompanied by bill, Senate, No. 2258) of Vincent
Lawrence Dixon for legislation to establish a Massachusetts Transportation Endowment Fund
(MTEF). Transportation.
[SIMILAR MATTER FILED IN PREVIOUS SESSION
SEE SENATE, NO. 2352 OF 2021-2022.]
The Commonwealth of Massachusetts
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In the One Hundred and Ninety-Third General Court
(2023-2024)
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An Act to establish a Massachusetts Transportation Endowment Fund (MTEF).
Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority
of the same, as follows:
1 SECTION 1. The Massachusetts General Laws are hereby amended by inserting the
2following new chapter:-
3 An Act to establish a Massachusetts Transportation Endowment Fund (MTEF).
4 1.) PURPOSES – Massachusetts has been a pioneer in developing, and expanding mass
5transportation for its population. In doing so, a consistent part of development, includes the
6continuing capital expenditures needed, to expand, and improve mass transit lines, particularly
7the fixed rail lines, stations, and other facilities; and resources for such, which often appear
8weak; or in need of capital upgrading; and/or are non-existent. 2 of 3
9 2.) Thus, it is important to identify, secure, provide for, and expand sources of capital
10expenditures, and this Statute, is designed for that purpose.
11 3.) Each and every year, a sum of not less than $200,000,000, ($200 Million), shall be
12transferred to a Massachusetts Transportation Endowment Fund (MTEF).
13 4.) This money, shall become a permanent trust fund, operating as an endowment, with
14significantly described requirements, and provisions. Income from the fund, may be used, only
15for capital construction, and improvements, of mass transportation lines, stations, and facilities,
16and needed additional directly related construction.
17 5.) Principal amounts, shall become fixed Endowment Principal, together with other
18specified amounts, to be further described.
19 6a.) When the fund principal, exceeds $1,000,000,000 ($1 Billion) in Endowment
20Principal; the formula for use, shall change:
21 6b.) Half of the annual contribution of $200,000,000 ($200 Million) may be directed to
22capital expenditures; while $100,000,000 ($100 Million) is directed to increase in the
23Endowment Principal.
24 6c.) Half of the annual income, may be utilized for capital expenditures. New non-fare
25revenues, from businesses on transit properties, shall be apportioned, with half of such revenues
26going to Operations, and half to the Endowment Principal.
27 7.) A Capital Project Approval Board (CPAB), of nine (9) members, shall review
28potential capital projects, establish a priority listing, and annually announce their decisions
29publicly. 3 of 3
30 8.) The nine (9) members appointed shall be:
31 8a.) Membership: One (1) by the General Manager of the MBTA; one (1) by the
32Secretary of Transportation, one (1) by the Governor; one (1) by the State Treasurer; one (1) by
33the State Auditor; one (1) by the State Senate President; one (1) by the House Speaker; one (1)
34by the Attorney General; and one (1) by the Governor’s Council. Their terms shall be of five (5)
35years duration, with one new regular, and renewable appointment, available each year.
36 8b.) General Purposes: This Capital Projects Approval Board (CPAB), shall have two (2)
37primary objectives: To decide specific project approvals, and to specifically oversee, all capital
38projects, during their creation, and subsequent operation.
39 9.) An Annual Report, publicly available, and generally publicized, shall be issued,
40detailing the current financial circumstances, and situation of the MTEF Fund, and the decisions
41made by its Capital Projects Approval Board (CPAB), in its most recently completed year.