Section 11 of chapter 91 of the General Laws, as appearing in the 2012 Official Edition, is hereby amended, in lines 20, 23, and 29, by removing the words "Soil Conservation Service of the United States Department of Agriculture" and inserting in place thereof the words "United States Army Corps of Engineers and other federal agencies";

Section 11A of chapter 91 of the General Laws, as so appearing, is hereby amended by adding the following:-

Unless otherwise authorized, the department may participate in funding projects up to 75 per cent for dredging projects and up to 50 per cent for all other work authorized under this section.

Chapter 91 of the General Laws, as so appearing, is hereby amended by adding after section 11A, the following new section:-

Section 11B.  The commissioner

The commissioner of the department of conservation and recreation, hereinafter referred to in this section as the commissioner, may receive and hold in trust on behalf of the commonwealth, exempt from taxation, bequests, restitutions or gifts to be used for the purpose of advancing the repairs and improvements to the harbors and inland waterways as identified under Sections 11 and 11A of this chapter and conservation interests of the commonwealth and shall administer the same in such manner as to carry out the terms of such bequests, restitutions or gifts, and he may accept on behalf of the commonwealth and the Division of Waterways to be held and managed for said purposes.

Said trust properties shall be known as the Waterways Trust and shall be used and expended under the direction of the commissioner and subject to his orders. Subject to the term of such grant, restitution, gift, devise or bequest, the commissioner may expend such funds, whether principal or income, without further appropriation.