Budget Amendment ID: FY2023-S4-857

OTH 857

Regional Transportation Trust Fund Creation

Messrs. Hinds, Eldridge and Moore, Ms. Moran, Mr. Velis, Ms. Rausch, Ms. Lovely and Messrs. Pacheco and Brady moved that the proposed new text be amended in section 3, by inserting the following sections:-

"Section XX. Regional Transportation Trust Fund

Section 3 of Chapter 161B of the General Laws as so appearing is amended by adding at the end of Section 3 the following

(a) A regional Transportation Trust Fund shall be created and funded by Section 39 of chapter 63 subsection (b) by funds in excess of $456 paid by filers subject to said subsection.

(i) Funds deposited in the Regional Transportation Fund shall be accessed by Regional Transit Authorities to expand regional service, electrification of transit fleet, or to provide fare-free transportation services.

(ii) Funds expended annually from the Trust Fund shall be equally distributed among Regional Transit Authorities.

Section XX. Funding for the Regional Transportation Trust Fund

Section 39 of chapter 63 of the General Laws, as so appearing, is amended by striking out subsection (b) and inserting in place thereof the following subsection:-

(b) A minimum tax as follows:

(1) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are less than $1,000,000, the minimum tax shall be $456.

(2) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000 and less than $5,000,000, the minimum tax shall be $1,500.

(3) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $5,000,000 and less than $10,000,000, the minimum tax shall be $2,500.

(4) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $10,000,000 and less than $25,000,000, the minimum tax shall be $3,500.

(5) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $25,000,000 and less than $50,000,000, the minimum tax shall be $5,000.

(6) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $50,000,000 and less than $100,000,000, the minimum tax shall be $10,000.

(7) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $100,000,000 and less than $500,000,000, the minimum tax shall be $25,000.

(8) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $500,000,000 and less than $1,000,000,000, the minimum tax shall be $75,000.

(9) If the total sales of the corporation in the commonwealth during the taxable year, as determined pursuant to subsection (f) of section 38, are equal to or greater than $1,000,000,000 the minimum tax shall be $150,000.

(c) All funds in excess of $456 in subsection (b) shall be placed in The Regional Transportation Trust Fund which shall be distributed to Regional Transportation Authorities."