Amendment ID: S3041-338-R1

Redraft Amendment 338

Withdrawal from Deficiency Fund

Messrs. Tarr and O'Connor move that the proposed new text be amended  in section 2A, in item 1596-2612, by inserting at the end thereof the following:- “provided further, that the Massachusetts Bay Transportation Authority shall, not less than 30 days prior to any withdrawal from this item, or as soon as practicable, provide to the clerks of the house and senate, the joint committee on transportation, and the house and senate committees on ways and means a written notice detailing: (i) the amount sought; (ii) the causes of the deficiency; and (iii) the specific purposes for which the funds will be used; and provided further, that the Massachusetts Bay Transportation Authority shall annually submit, over the next 5 fiscal years, a report to the clerks of the house and senate and the house and senate committees on ways and means detailing: (i) projected taxpayer subsidies required to support the authority’s operating and capital needs for each of the next 5 fiscal years; (ii) the assumptions and methodologies used to develop such projections; (iii) anticipated cost drivers and risks affecting subsidy levels; (iv) efforts undertaken or planned by the authority to reduce operating costs, improve efficiency, and achieve long‑term fiscal stability; and (v) actual expenditures and updated projections of the deficiency fund for the remainder of the fiscal year; provided further, that each report shall include an analysis of potential savings associated with such cost‑reduction measures.”