SECTION 1. Chapter 6C of the General Laws shall be amended by inserting the following new section:-
Section 77. The department shall establish a Massachusetts Infrastructure Bank (MIB) to finance a loan program for eligible transportation projects including, but not limited to, highways and bridges, railroads, transit, waterways, ports and airports. The MIB shall receive funds made through the annual general appropriation act, to be leveraged with private debt capital through the issuance of bonds or other financing arrangements.
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