HOUSE DOCKET, NO. 1641        FILED ON: 1/13/2009

HOUSE  .  .  .  .  .  .  .  .  .  .  .  .  .  .  .  No. 3248

The Commonwealth of Massachusetts

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In the Year Two Thousand Nine

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An Act relative to reforming the finances of the massachusetts turnpike authority..

Be it enacted by the Senate and House of Representatives in General Court assembled, and by the authority of the same, as follows:
 

SECTION 1. Subsection (l) of section 4 of chapter 81A of the General Laws, as most recently amended by chapter 304 of the acts of 2008, is hereby further amended by inserting after “to real property currently pending;” the following:-

provided, it shall dispose of a portion of its real property to the Pension Reserves Investment Trust Fund established under the provisions of subdivision (8) of section twenty-two in exchange for the current market value of such portion of real property

SECTION 2. Subdivision (2A) of section 23 of chapter 32 of the General Laws, as appearing in the 2006 Official Edition, is hereby amended by adding the following paragraph:-

(k)  Subject to the approval or ratification of the PRIM board, the executive director shall prescribe rules and procedures to facilitate the inclusion of real property, as acquired pursuant to subsection (l) of section 4 of chapter 81A, into the PRIT Fund.