Amendment #88 to H3382

Transportation Fund

Representatives Cabral of New Bedford, Sciortino of Medford and Silvia of Fall River moves to amend the bill by inserting the following sections:

SECTION X.  Chapter 29 of the General Laws, as appearing the 2010 edition, is hereby amended by adding the following section:

Section 2JJJJ.  There shall be established and set up on the books of the commonwealth a separate fund to be known as the Massachusetts Rail Transit Fund, which shall be used exclusively for financing new light or heavy rail projects and the resulting new service. There shall be credited to the fund all fees received by the registrar of motor vehicles under section 34T of chapter 90 and all amounts appropriated into the fund by the general court. The fund shall be used solely for the purpose of providing rapid transit light rail or commuter rail service to neighborhoods not currently served by the type of rail service being proposed, including to pay or reimburse the General Fund for payment of debt service on bonds issued by, or otherwise payable under a lease or other contract assistance agreement by, the commonwealth for said purposes.

SECTION XX.  Section 5G of chapter 29 of the General Laws, as amended by chapter 239 of the acts of 2012, is hereby amended by adding at the end the following:

“Fifty per cent of any amount transferred to the Commonwealth Stabilization Fund under this section shall then be transferred from the Commonwealth Stabilization Fund to the Massachusetts Rail Transit Fund established in section 2JJJJ of this chapter.

Additional co-sponsor(s) added to Amendment #88 to H3382

Transportation Fund